Paychex Fall ’21 Product Launch Helps Companies Navigate New Job Landscape
“The COVID-19 pandemic has accelerated digital transformation in many organizations, changed the long-term employment landscape and dramatically increased competition for talent,” said Tom hammond, Paychex vice president of corporate strategy and product management. “The products included in our most recent version have been developed to help employers meet candidate and worker demand for increased flexibility, more competitive advantages, and easier access to HR data and information. “
“According to a study recently commissioned by Paychex, the opportunity to introduce more efficiency and automation is the main reason companies seek new HR technology,” added Maureen Lally, Paychex vice president of marketing. “We conduct ongoing market research to understand the changing needs and behaviors of our customers and prospects so that we can design our products and services to meet those expectations. These most recent research findings clearly underscore the need for the offerings featured in our fall launch. ”
Here are the highlights of the Paychex Fall ’21 version:
- Paychex pre-verification: In today’s competitive hiring environment, payroll accuracy and punctuality is paramount for retention. Initiated via Paychex Flex®, the company’s HR SaaS software, employees are informed on their channel of choice – including smartwatches and smart speakers – that their gross-to-net payslip is ready for full review. security. Employees can complete the review in the Paychex Flex mobile app and are asked to confirm the correctness of the amount or report an issue to the employer’s administrator, who can resolve the potential issue before payday.
- Talent management: In light of the “Great Resignation,” retention has become a critical part of any talent management strategy. Paychex introduced three new resources within Paychex Flex to help inform HR decisions:
- Retention Information: Predictive analytics based on dozens of data points to identify employees who might be more likely to consider leaving the organization.
- Comparative salary analysis: Allows employers to compare pay per position details with national data provided by the Bureau of Labor Statistics.
- Talent dashboard: Compensation goes one step further with a dashboard that brings together information about retention, leave balances and performance management reviews in one place, allowing administrators to compare performance reviews and compensation for each. job.
- Amazon Alexa Integration: The expansion of conversational AI and voice integration in Paychex Flex allows users to easily interact with the app from anywhere. With the addition of Amazon Alexa to existing integrations with Google Assistant ™ and Siri® Shortcuts, Paychex Flex is the first HCM application to offer integration with three of the major voice assistant platforms.
- Management of Paychex Flex leave: A new solution to help employers save time and reduce manual tasks while providing a clear, real-time view of leave balances, this provides organizations with a consistent system for tracking leave. For customers using Paychex Flex and Paychex Flex Time, the process is automated.
- Partners in globalization: With more and more companies enabling remote working and expanding the talent ecosystem around the world, Paychex has partnered with globalization partners to offer international payroll and HR services to Paychex customers. who are hiring outside of the United States.
“Our data suggests that hiring and wages are both on the rise, which is an encouraging sign that the negative economic impacts of the pandemic are abating – but the road ahead will not be easy for employers or employees, ”Hammond said. “COVID-19 has forever changed the way we think about how, when and where work is done. Working from home has shifted recruitment to the national level, introducing a critical need to ensure that pay and benefits are aligned with national averages. The strategic investments we ‘continue to integrate with our software solutions will provide organizations with the tools they need to hire, engage and retain the talent that will drive business success into the future. ”
Visit payx.me/fall2021 to learn more about how these Paychex solutions are enabling the future of work.
Paychex, Inc. (Nasdaq: PAYX) is a leading provider of integrated human capital management software solutions for human resources, payroll, benefits and insurance services. By combining its innovative software as a service technology and mobility platform with personalized and dedicated service, Paychex enables small and medium business owners to focus on growing and managing their business. Drawing on 50 years of industry expertise, Paychex has served over 710,000 payroll clients as of May 31, 2021 in more than 100 locations in the United States and Europe, and pays one in 12 private sector employees in the United States. Learn more about Paychex by visiting paychex.com and stay connected at Twitter and LinkedIn.
SOURCE Paychex, Inc.