Kristian Ferrell
In basketball, UKG stands for Ultimate Kronos Group, a tech company that provides human resources, payroll, and workforce management solutions. The Miami Heat, a member of the National Basketball Association (NBA), uses UKG Pro to administer its complex payroll and satisfy its reporting needs. Ultimate Kronos Group was formed in late 2020 through a merger between Ultimate Software and Kronos Incorporated. The company is based in Massachusetts and Florida and offers software to help organizations manage various aspects of their operations, including scheduling, benefits, attendance, onboarding, and payroll.
| Characteristics | Values |
|---|---|
| Full Form | Ultimate Kronos Group |
| Type of Business | American technology company |
| Area of Specialization | Human resources, payroll, and workforce management solutions |
| Product | UKG Pro |
| Users | National Basketball Association Team Miami HEAT |
Explore related products
What You'll Learn
UKG is short for Ultimate Kronos Group
In the context of basketball, UKG is short for Ultimate Kronos Group, an American technology company that provides workforce management and human resource management services. The company was formed in April 2020 through the merger of Ultimate Software and Kronos Incorporated.
UKG is most notably associated with the Miami Heat, a member of the National Basketball Association (NBA), through a sponsorship deal. The UKG logo is featured on the team's jerseys, and the company's software is used by the Heat to manage their complex payroll. The Miami Heat organisation has a diverse employee base, consisting of salaried, hourly, commission-based, and event-based employees, as well as players, coaches, scouts, and travelling staff who work across multiple tax jurisdictions.
UKG's Pro software has helped the Miami Heat automate and streamline their payroll processes. It enables them to handle pay complexities, such as different rates for specific employee roles and appearances, and automatically allocate earnings based on specific states and cities, calculating pay accordingly. This has reduced the time and effort required for manual, per-employee calculations, improving accuracy.
In addition to payroll, UKG Pro also assists with tax reporting across various jurisdictions. The software's configurability allows the Miami Heat to customise the system to meet their unique needs, generate reports based on their business goals, and maintain a lean payroll team. The partnership between UKG and the Miami Heat has brought significant exposure to the company, especially during the team's run to the 2023 NBA Finals.
Jerry Lucas: Basketball Hall of Fame Legend
You may want to see also
UKG is an American technology company
UKG, which stands for "Ultimate Kronos Group", is an American multinational technology company that provides workforce management and human resource management services. The company was founded in April 2020 following the merger of Ultimate Software and Kronos Incorporated, with dual headquarters in Lowell, Massachusetts, and Weston, Florida.
UKG is a leading provider of HR, payroll, and workforce management solutions, helping over 80,000 organizations across 150 countries and every industry to navigate challenges and adapt to their employees' needs. Their products include the UKG Pro HCM suite, which assists organizations in managing the entire employee lifecycle, from recruitment to retirement.
The company has made several acquisitions to expand its capabilities and market reach. In June 2021, UKG acquired EverythingBenefits, a developer of cloud-based business software, allowing them to enhance their payroll and HR service delivery offerings. In September 2021, they purchased Great Place to Work® Inc., the company behind Fortune's annual list of best companies to work for. UKG has also expanded into new markets, such as the Caribbean, through the acquisition of Interboro Systems Corporation in Puerto Rico.
UKG has received recognition for its inclusive and diversified workforce, as well as its community-oriented work environment. In 2021, they appointed Brian Reaves as their Chief Belonging, Diversity, and Equity Officer, and launched the "Close the Gap Initiative", a $3 million campaign to address salary inequity in the United States.
In addition to their technology and business endeavours, UKG has also gained exposure through sports sponsorships. They are known for their partnership with the Miami Heat of the National Basketball Association (NBA), with the UKG logo featured on the team's jerseys. This sponsorship has provided UKG with significant visibility, especially during the Heat's run to the 2023 NBA Finals.
Mastering the Art of Hitting a Badminton Birdie
You may want to see also
UKG is a Miami Heat jersey sponsor
UKG, short for Ultimate Kronos Group, is the jersey sponsor of the Miami Heat. The company, a result of a merger between Ultimate Software and Kronos Incorporated in April 2020, is an American technology company specialising in workforce management and human resource management services.
The Miami Heat, a member of the National Basketball Association, uses UKG Pro to manage its complex payroll and satisfy its reporting needs. The Heat employee base consists of salaried employees, hourly employees, commission-based employees, and employees paid per event. UKG Pro helps the team automate its complex payroll obligations and maintain a lean payroll team. The software can also handle the complexities within job codes and different pay rates for the same job depending on the task.
Jersey sponsorships are quite profitable for NBA teams, with sponsors paying anywhere from $7-10 million per year. The Miami Heat's partnership with UKG is a win-win situation, with the team gaining an additional revenue stream to invest in their team, arena, and facilities, while UKG gains exposure through the team's success.
The UKG logo is featured on the jerseys of Miami Heat players, providing the company with a unique form of advertising. Every time a Heat player is shown on screen, it serves as an advertisement for UKG, associating the company with the team's performance and success. This form of exposure marketing creates a long-lasting impression, with UKG forever linked to the Miami Heat's run to the 2023 NBA Finals.
US Basketball: A Winning Streak?
You may want to see also
UKG Pro helps the Miami Heat manage payroll
The Miami Heat, a member of the National Basketball Association (NBA) and manager of the FTX Arena, has a diverse employee base consisting of salaried employees, hourly employees, commission-based employees, and employees paid per event. To manage its complex payroll and reporting needs, the Miami Heat turned to UKG Pro.
UKG, or Ultimate Kronos Group, is an American technology company specialising in workforce management and human resource management services. Their UKG Pro solution offers configurability and detailed, out-of-the-box reporting, enabling the Miami Heat to automate complex payroll processes and maintain a lean payroll team.
One of the key benefits of UKG Pro for the Miami Heat is its ability to handle multiple tax jurisdictions. As Rose Pearson, the payroll director at the Heat, explained, their players, coaches, scouts, and travelling staff work in various tax jurisdictions throughout the year. UKG Pro is set up to automatically allocate earnings to specific states and cities and calculate pay accordingly.
Additionally, UKG Pro's configurability allows the Miami Heat to customise the system to meet their unique needs. For example, team dancers are paid different rates based on their tenure and the type of appearance. With UKG Pro, the Heat can easily manage these varying pay rates without manual, time-consuming calculations.
The Miami Heat also benefits from UKG's dedicated support team, who provide timely and knowledgeable assistance. Carole Moncada, the payroll manager at the Heat, praised the ease of creating and modifying reports in UKG Pro to fit their specific needs. The comprehensive support from UKG ensures that the Miami Heat can efficiently manage their payroll and reporting requirements.
UNC Basketball: Unranked and Underperforming This Season
You may want to see also
UKG's partnership with the Miami Heat
UKG, short for Ultimate Kronos Group, is an American technology company that provides human resources, payroll, and workforce management solutions. It was formed in April 2020 through a merger between Ultimate Software and Kronos Incorporated.
The Miami Heat, a member of the National Basketball Association (NBA), has partnered with UKG in several ways. Firstly, UKG is the team's jersey patch sponsor, with its logo featured on the team's jerseys during their run to the 2023 NBA Finals. While the exact details of this partnership are not publicly known, jersey sponsorships in the NBA typically range from $7-10 million per year, providing significant exposure for the sponsoring brand.
In addition to jersey sponsorship, the Miami Heat organization also uses UKG Pro, a software solution provided by UKG, to manage its complex payroll and reporting needs. The Miami Heat has a diverse employee base, including salaried, hourly, commission-based, and event-based compensation structures. UKG Pro helps automate these complex payroll obligations and maintain a lean payroll team. The software is well-suited for the sports industry, allowing the Miami Heat to handle multiple tax jurisdictions, allocate earnings to specific states and cities, and calculate pay accordingly.
Carole Moncada, the payroll manager at the Miami Heat, praised UKG Pro for its ease of use and the support provided by the UKG team. She highlighted the configurability of the software, allowing the organization to build the system according to its unique needs and create reports based on its business goals. Rose Pearson, the payroll director, also emphasized the ability of UKG Pro to handle complex pay structures, such as those for team dancers who are paid based on their years of service and specific appearances.
Through its partnership with UKG, the Miami Heat has been able to streamline its payroll processes, ensuring accuracy and efficiency in managing its diverse and complex compensation structures. This collaboration showcases the practical application of UKG's workforce management solutions in the sports industry, particularly for organizations with dynamic and varied payroll requirements.
Boys' Basketball Championships: Which School Reigns Supreme?
You may want to see also
Frequently asked questions
UKG stands for Ultimate Kronos Group, a tech company based in Massachusetts and Florida.
The company specializes in human resources, payroll, and workforce management solutions, including software that the Miami Heat basketball team uses to handle payroll.
The Miami Heat is sponsored by UKG, and the company logo is featured on the team jerseys.
