Employer Pay in Payroll Taxes

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The employer is responsible for paying payroll tax on behalf of the employee. These taxes might either be fixed fees or proportional to the employer's payroll. The company pays them as a commitment to the employee's social security, insurance, and other programs. A tax is a mandatory payment to state revenue levied on employees' earnings and corporate profits or added to the price of certain goods, services, and activities. The government deducts a set amount from your salary. This money is invested in the people's welfare, including schooling, transportation, health, economy, etc. Employees, on the other hand, do not file the tax immediately. Employers achieve this by taking a certain amount from the employee's salary. As a result, the employer must pay the Indian government payroll taxes.


Did you Know?


The payroll taxes are the mandatory part for each employee. Irrespective of any employee’s salary scale, they should know payroll calculations and payroll taxes. Payroll procedures can result in penalties if they are misunderstood. The best way to avoid such mishaps is to thoroughly understand tax regulations and include them in the payroll process.

Furthermore, only a payroll that complies with Indian regulations will be considered legal in the eyes of the law. This procedure should be followed regularly during each pay period. An outsourced payroll procedure will relieve you of the weight you're carrying in this period of rapid change in rules and regulations. If using an in-house payroll system, be aware of any changes in tax rules to stay on top of any unforeseen events.

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Payroll

Top Books for Workplace Engagement: Leading Recommendations

Article | December 23, 2021

Explore the top books for workplace engagement with this insightful guide. Discover essential books for HR professionals designed specifically to enhance employee satisfaction and industry culture. Contents 1. Introduction 2. Top Constructive Books for Workplace Engagement 2.1 Employalty 2.2 Enhancing Employee Engagement and Productivity in the Post-Pandemic Multigenerational Workforce 2.3 Cultivating Culture 2.4 Beyond Human Resources Management Within Organizations 2.5 Excellence in People Analytics 2.6 People Strategy 2.7 People Operations 2.8 Employee Engagement: A Human Resource Management Perspective 2.9 Engaging Virtual Meetings 2.10 Ways to Build Employee Engagement 3. Key Takeaways 1. Introduction In today's changing work environment, fostering a culture of engagement and productivity is more critical than ever. With the challenges posed by remote work, multigenerational teams, and the constant quest for talent retention, leaders and HR professionals are on the lookout for strategies and insights that can drive commitment and excellence within their organizations. This article delves into top books for workplace engagement that offer innovative, practical, and research-backed approaches to enhancing workplace engagement. From igniting commitment among top talent to leveraging workforce data for strategic advantage, these reads provide a comprehensive toolkit for anyone looking to turn organizational culture into a strategic asset. Explore these talent management books to elevate organization's performance and employee satisfaction to new heights. 2. Top Constructive Books for Workplace Engagement Exploring effective strategies for boosting employee engagement is crucial for any organization aiming to enhance productivity and retain top talent. This section features the top books for workplace engagement that offer innovative insights and practical approaches to cultivating a motivated and committed workforce. Each selection provides leaders and HR professionals with the latest strategy and trends needed to foster an environment where engagement thrives. 2.1 Employalty Author: Joe Mull 'Employalty: How to Ignite Commitment and Keep Top Talent in the New Age of Work' is an exploration into the dynamics of the modern workforce. The book is an essential asset for companies trying to hold on to their best employees and maintain a culture of dedication in the face of rapid shifts in standards and expectations at work. These books serve as one of the most vital employee engagement books for recruiters and hirers, providing insightful guides for developing employee skills and abilities and thus empowering organizations to thrive amidst evolving workforce dynamics. Introduces the innovative concept of 'employalty' to describe the crucial intersection of employment and loyalty in the modern workplace. Offers actionable strategies to foster a sense of belonging, purpose, and fulfillment, enhancing employee engagement and loyalty. Highlights the importance of flexible work arrangements and inclusive leadership in adapting to contemporary workplace expectations. Provides insights into boosting productivity, fostering innovation, and improving retention rates in a competitive business environment. 2.2 Enhancing Employee Engagement and Productivity in the Post-Pandemic Multigenerational Workforce Authors: Bryan Christiansen, Angela M. Even The book 'Enhancing Employee Engagement and Productivity in the Post Pandemic Multigenerational Workforce' provides an insightful look at the complex opportunities and challenges that firms are facing post COVID-19. This book explores in depth the dynamics of a multigenerational workforce, exposing the unique work styles, attitudes, and preferences that each generation brings to the workplace. Provides an in-depth look at the multigenerational mix of today's workforce. Utilizes case studies and research findings to explore effective strategies for enhancing engagement and productivity. Provides practical examples and actionable strategies focused on addressing contemporary challenges such as remote work adaptation, flexible scheduling, mental health support, and career development opportunities. Emphasizes the importance of creating an inclusive and collaborative workplace culture that leverages generational differences as a strength. 2.3 Cultivating Culture Author: Brad Federman 'Cultivating Culture: 101 Ways to Foster Engagement in 15 Minutes or Less' is an essential, practical book for HR professionals who are committed to developing a lively and interesting workplace culture. This book is notable for its practicality; it provides a wide range of quick and easy to implement strategies for enhancing employee engagement that busy professionals may include in their everyday routines. Provides 101 quick, practical, and effective ways to improve workplace culture that can all be implemented in 15 minutes or less. Covers a wide range of activities, from setting up brief brainstorming sessions and mutual recognition programs to adding mindfulness exercises, thereby guaranteeing a fit for various organizational goals and preferences. Backs each strategy with research and real world examples, showcasing the tangible benefits of nurturing a positive workplace culture on employee satisfaction, productivity, and retention. Utilizes a user friendly format, making the advice accessible and implementable for a wide audience, including HR professionals, managers, and team leaders across all industries. 2.4 Beyond Human Resources Authors: Fernando Martín Alcázar, Natalia GarcíaCarbonell, Gonzalo Sánchez Gardey 'Beyond Human Resources: Research Paths Towards a New Understanding of Workforce Management Within Organizations' is creative work that explores opportunities in workforce management by going beyond conventional human resources concepts. By conducting multidisciplinary studies, the writers reveal the complex interactions that exist between people, groups, and the organizational ecosystem. This book advocates for a more complicated and comprehensive strategy, serving as a clear appeal to reconsider how employee behavior and performance are perceived in the corporate world. Questions the efficacy of conventional human resources methodologies, suggesting that they may not fully capture the complex realities of workforce dynamics. Utilizes interdisciplinary research from psychology, sociology, and organizational behavior to analyze the complex interactions that influence workplace culture and employee motivation. Introduces innovative research paths, including the exploration of social networks within organizations, the impact of organizational culture, and the role of individual motivations in shaping employee performance. Offers theoretical insights and empirical evidence to support the need for new frameworks in understanding workforce management. Discusses the potential transformative effects of technology on workplace relationships and the importance of emotions in organizational decision-making processes. 2.5 Excellence in People Analytics Authors: David Green, Jonathan Ferrar 'Excellence in People Analytics: How to Use Workforce Data to Create Business Value' demonstrates the revolutionary potential of people analytics in the commercial world. Renowned HR and people analytics professionals, the authors lay out a plan for incorporating data-driven insights into the foundation of HR procedures. They clarify how efficiently mined and processed workforce data can transform hiring, talent management, employee engagement, and performance assessment procedures from the perspective of real-world applications, eventually fostering organizational growth and innovation. Underscores the critical role of a data-driven approach in modern HR management, highlighting how analytics can inform strategic decisions and enhance organizational effectiveness. Presents practical strategies and best practices for leveraging workforce data, guiding readers through the intricacies of data collection, analysis, and interpretation. Features compelling case studies and examples from various organizations that have successfully implemented people analytics to optimize HR processes and drive significant business value. Explores the application of advanced analytics techniques, including predictive modeling and machine learning, to gain deep insights into employee behavior and forecast future workforce trends. 2.6 People Strategy Author: Jack Altman 'People Strategy: How to Invest in People and Make Culture Your Competitive Advantage' explores the critical role that culture and people play in ensuring organizational success. Using his extensive experience as an entrepreneur and business leader, the author offers a thorough framework for investing strategically in people and utilizing culture as a special competitive advantage. This book emphasizes how important it is for people's strategies to be in line with an organization's larger goals and core values. It also shows how this alignment may increase engagement, spark creativity, and improve overall performance. Advocates for the central positioning of people and culture within the strategic planning of an organization, highlighting their influence on long term success. Stresses the importance of integrating the hiring process, development, and retention practices with the aim of fostering a vibrant and productive workplace culture. Covers a wide range of people management aspects, from recruitment and performance management to learning, development, and employee wellness, offering a toolkit for creating a high performing team. Provides guidance on developing a culture that not only attracts but also retains top talent by promoting a sense of belonging and purpose. 2.7 People Operations Authors: Kevin Marasco, Tracy Cote, Jay Fulcher The book 'People Operations: Automate HR, design a Great Employee Experience, and Unleash Your Workforce' sets a new standard for the development of HRM. This study presents 'People Operations,' a cutting-edge approach that leverages technology, data analytics, and design thinking to completely transform conventional HR procedures. The authors present a strong argument for the transformation of HR into a key driver of corporate success, contending that adopting a more flexible, technologically advanced strategy may greatly improve productivity and the employee experience. Critiques conventional HR methodologies for being outdated and proposes a shift toward an agile, technology-enabled approach to HR management. Advocates for the central role of data-driven insights and automation tools in modernizing HR processes and improving employee engagement. Provides a wealth of practical examples and case studies demonstrating how companies can implement ‘People Operations’ to streamline HR functions and improve workforce management. Outlines actionable strategies for leveraging technology and data analytics across various HR processes, including recruitment, onboarding, performance management, and talent development. Emphasizes the importance of design thinking in creating a seamless and empowering employee experience, aimed at boosting engagement, productivity, and innovation. 2.8 Employee Engagement: A Human Resource Management Perspective Authors: Cam Caldwell, Verl Anderson An in-depth analysis of the fundamentals of employee engagement within the context of human resource management can be found in 'Employee Engagement: A Human Resource Management Perspective’. The book makes a strong case for how important engagement is to obtaining increased output, higher retention rates, and better organizational performance. With a background in psychology, management, and HR, the authors have used their knowledge to analyze the intricate factors that affect employee engagement and the critical role HR specialists play in developing an atmosphere where engagement succeeds. Investigates the comprehensive impact of employee engagement on key organizational outcomes, including productivity, retention, and overall performance. Provides an extensive analysis of the drivers of employee engagement, incorporating research and theories from psychology, management, and human resources. Covers a broad spectrum of HR practices and initiatives, from recruitment and onboarding to performance management and career development, emphasizing their significance in fostering engagement throughout the employee lifecycle. Offers practical examples, case studies, and actionable insights, equipping HR professionals with the tools and techniques necessary for measuring and enhancing levels of employee engagement. 2.9 Engaging Virtual Meetings Author: John Chen 'Engaging Virtual Meetings: Openers, Games, and Activities for Communication, Morale, and Trust' is a pivotal guide tailored for the new norms of remote work and virtual collaboration. This book emerges as an essential resource for leaders, facilitators, and anyone involved in orchestrating virtual meetings, offering a rich compilation of creative and practical activities designed to make online gatherings more dynamic, interactive, and successful. Provides a diverse toolkit of openers, games, and activities specifically crafted for enhancing engagement in virtual meetings. Offers detailed instructions and adaptable ideas for a wide range of exercises aimed at improving communication, boosting morale, and fostering trust among participants. Empowers facilitators to conduct virtual meetings that are not only productive but also enjoyable and motivating for all participants. Shares insights on how to kick start meetings with energizing activities, promote collaboration through interactive games, and strengthen team relationships with trust building exercises. 2.10 180 Ways to Build Employee Engagement Authors: Brian Gareau, Al Lucia 180 Ways to Build Employee Engagement: How to Maximize Your Team's Commitment, Effort, and Loyalty is a detailed compilation of strategies aimed at bolstering employee engagement within any organization. Drawing from their vast expertise in organizational development and human resources, the authors have curated a list of 180 actionable tips and practices to enhance the workplace atmosphere, ensuring employees feel valued, motivated, and loyal. Presents a comprehensive suite of strategies designed to foster a positive work culture, elevate recognition, streamline communication, and support employee growth and development. Each of the 180 ways is articulated with clarity, providing leaders and managers with tangible actions to improve employee engagement effectively. Emphasizes the importance of creating an environment where employees are encouraged to commit fully, exert their best effort, and remain loyal to the organization. The book is formatted for ease of use, allowing readers to quickly identify and implement strategies that align with their specific organizational objectives and challenges. 3. Key Takeaways Featuring a carefully curated selection of top books for workplace engagement, this article serves as a valuable resource for HR professionals, recruiters, and team leaders seeking to enhance employee engagement and foster stronger team dynamics. Looking ahead, embracing innovative approaches to engagement will be crucial for attracting and retaining top talent. By investing in continuous learning and leveraging the wisdom shared in these inspiring employee engagement books, HR professionals can stay ahead of the curve and cultivate environments where employees thrive, fostering a culture of inclusivity, innovation, and growth. Hiring managers and recruiters may effectively manage the changing world of employee engagement and team development with the help of these workplace engagement solution books.

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Payroll

HR Software Excellence: Top 15 Workforce Management Solutions

Article | June 9, 2022

Examining their role in business operations, understand why workforce management tools matter in 2024. Navigate the sea of cloud-based solutions and learn which top WFM tool best suits your needs. 1 Selecting Workforce Management Tool: What Factors to Consider? 2 Top Workforce Management Software and Tools in 2024 2.1 Hireology 2.2 Movista 2.3 Assembled 2.4 APS 2.5 Deputy 2.6 WebHR 2.7 Homebasev 2.8 Beekeeper 2.9 EPAY HCM 2.10 Planday 2.11 Employee Navigator 2.12 Eddy 2.13 Breathe 2.14 Proliant 2.15 Cezanne HR 3 Final Note: Future Trends in Workforce Management 1. Selecting Workforce Management Tool: What Factors to Consider? The adoption of workforce management tools has steadily increased in recent years, becoming a critical component of business operations. Businesses across various sizes are increasingly recognizing the strategic advantage of these tools, such as enhanced control over operations, streamlined communication, efficient task scheduling, and improved insights into employee performance. Nonetheless, choosing the right workforce management solution is not straightforward. The surge in technological innovation has given rise to various cloud-based options, presenting businesses with a wide array of choices in the market. When selecting a workforce management tool, there are many considerations to notice; it's important to thoroughly evaluate your specific needs. One such key factor to consider is the size of your company. While small businesses may find that basic tools for tracking time and attendance suffice, larger organizations typically require more sophisticated solutions equipped with advanced analytics and reporting features. Secondly, decision-makers must take into account their work model. Businesses operating with an on-site model generally have more straightforward requirements than those adopting a hybrid or remote work model. Different work models pose their own unique challenges, like real-time location monitoring, which is a must-have feature for tracking fieldwork. In addition, businesses should also carefully evaluate the compatibility of workforce management solutions with their current digital infrastructure. Aside from their benefits, it's important to recognize that workforce management tools may not cover all aspects of employee management within an organization. Therefore, seamless integration with existing systems, for instance, HR management software, is essential to facilitate efficient data processing and analysis. 2. Top Workforce Management Software and Tools in 2024 2.1 Hireology Hireology is the Applicant Tracking System (ATS) tailored for enterprises leading the industry in recruitment automation and backed by unparalleled customer support. Hireology's employee referral program enhances customer return on investment through comprehensive automation, talent relationship management, and beyond. It provides a comprehensive benefit package designed to enhance work-life balance and job satisfaction. The company has also secured the 8th position out of the top 50 HR products in G2’s Best of Software 2023 Awards and achieved the top rank in user satisfaction by G2 in Fall 2023. 2.2 Movista Movista presents an enterprise-grade retail execution Software as a Service (SaaS) solution designed to significantly enhance the orchestration of in-store work and improve on-shelf availability, revolutionizing the way retail teams collaborate within the dynamic store environment. By facilitating seamless integration with existing business systems, Movista empowers store teams with tools for improved stock management, efficient communication, and real-time performance analytics, ultimately aiming to reduce labor costs, optimize shelf performance, and ensure products are available precisely when and where needed. 2.3 Assembled Assembled is a modern workforce management software designed to scale customer support operations efficiently. The tool is a leading all-in-one workforce management platform for customer experience (CX) teams and BPOs. It helps these teams make informed staffing decisions, improve schedule adherence, and offer better visibility into data to help improve performance. The platform is noted for decreasing manual reporting time by 80%, doubling SLA performance, and boosting agent productivity by 25%. 2.4 APS APS, also known as Automatic Payroll Systems, is a comprehensive workforce management solution that integrates various HR functions into a single platform. The tool provides robust solutions for core HR, payroll, benefits administration, attendance, recruiting, employee onboarding, and more. It enables efficient processing of employee pay, automates employee lifecycle processes, and eliminates inefficiencies associated with managing data across multiple systems. This integration allows HR departments to focus on more strategic tasks. 2.5 Deputy Deputy is a multifaceted workforce management software designed to streamline various aspects of team management. The tool simplifies creating and managing employee schedules with drag-and-drop functionality, allowing for easy assignment of shifts. Additionally, the platform features a time tracking feature where employees can clock in and out using mobile devices, with options for facial recognition and geolocation verification to ensure accuracy. Trusted by renowned organizations such as Amazon, Nike, Uber, and HubSpot, Deputy caters to a broad spectrum of corporate needs, offering flexible pricing plans for businesses of all sizes. 2.6 WebHR WebHR is a comprehensive cloud-based human resource management solution designed to assist organizations in managing the complete employment lifecycle of their employees, from hiring to retirement. The tool operates on the Software as a Service (SaaS) and Cloud Computing model. It integrates various HR and IT functionalities into a unified platform, offering a range of features such as recruitment, onboarding, payroll, time and attendance management, leaves and PTO, performance management, and more. WebHR's user-centric pricing structure starts at $2 per employee per month for an annual subscription. Alternatively, it offers a monthly billing option at $3 per employee. 2.7 Homebase Homebase is a versatile cloud-based time tracking and scheduling solution that caters to the needs of various businesses, particularly small businesses in various industries. It simplifies HR processes by providing tools for employee scheduling, timesheets, and payroll management. Users of Homebase appreciate its ease of use, intuitive user interface, and responsive customer service. It provides automatic scheduling, labor forecasts, GPS tracking, and automatic reminders to staff. Homebase offers several plans to cater to different business needs The Basic Plan is free for a single location and up to 20 users, and it includes basic features like time tracking, scheduling, employee management, and POS integration. For businesses with more than one location, there are three paid plans: Essentials ($24.95/location/month), Plus ($59.95), and All-in-One ($99.95). 2.8 Beekeeper Beekeeper is a digital platform designed primarily for frontline workers, providing a comprehensive suite of tools to enhance organizational productivity and communication. The platform is mobile-first, catering specifically to deskless employees, which sets it apart from traditional office-centric communication tools. The software facilitates effective communication with features like inline translations, surveys, and polls to ensure that employees receive information in their preferred language and can collaborate efficiently. Beekeeper offers digital solutions for onboarding new hires, providing training, and managing shift changes. The platform includes functionalities for creating and managing digital checklists and automating workflows. 2.9 EPAY HCM EPAY HCM is an advanced human capital management and workforce management software that helps companies manage their hourly workforces and become more efficient. The platform encompasses a wide range of functionalities crucial for effective HR management. Key features of EPAY HCM include applicant tracking, onboarding, benefits administration, workforce management, time tracking, and payroll processing. The system is designed to easily conform to any labor environment, facilitating workforce control and compliance with labor laws while reducing labor costs. 2.10 Planday Planday is a versatile cloud-based employee scheduling platform suitable for businesses of various sizes and industries. Its key functionalities include managing employee hours, vacation requests, shift swaps, payroll, and communication. A standout feature is its ability to optimize schedules, helping businesses avoid overstaffing and reduce payroll costs. The platform also offers a location-specific clock-in function, allowing employees to clock in from any device, which gives managers an accurate overview of expected payroll and revenue forecasts. The pricing for Planday starts at €2.49 per user per month for the starter plan, with more advanced features available in higher-tier plans. 2.11 Employee Navigator Employee Navigator is a cloud-based benefits administration and HR management solution. It assists HR departments in offering comprehensive benefits packages and simplifies benefit administration operations. Key features include employee onboarding, PTO tracking, ACA reporting, payroll integration, and a self-service login. The software allows HR teams to manage and track benefits through an online dashboard, monitor enrollment status, manage benefit contributions, review documents, and enroll in benefit packages. Pricing for Employee Navigator starts at $630 per month for the enhanced plan. 2.12 Eddy Eddy is an all-in-one HR Suite designed primarily for small businesses. It streamlines various HR processes such as hiring, onboarding, payroll, time tracking, and people management. The software aims to move businesses away from paper and spreadsheets, offering a web-based HR solution. Eddy is particularly noted for its ease of use in managing digital employee documents, automating the hiring process, and integrating with job search sites. Its pricing starts at $6 per employee per month, with three plans available, each tier offering additional features. 2.13 Breathe Breathe is a multi-award-winning HR software primarily aimed at SMEs. The platform offers a range of functionalities, including employee data management, leave and sickness tracking, HR document management, training, performance, expenses, recruitment, rota scheduling, and more. Breathe's cloud-based, GDPR-compliant, and ISO27001-accredited platform ensures high data security levels. It supports up to 200 employees and is recognized for its ease of use and value for money. The pricing for Breathe varies based on the size of the business, starting at £18 per month for up to 10 employees. 2.14 Proliant Proliant is a comprehensive HR and payroll software solution designed to cater to various business needs. It offers a range of features, including applicant tracking and recruiting, employee onboarding, performance management, payroll and tax services, and an employee self-service portal. Proliant is highly regarded for its comprehensive range of HR features and responsive customer service, making it particularly suitable for businesses looking for a robust solution that covers a wide spectrum of HR and payroll functionalities. It's important to note that while the software does not offer a free version or trial, its pricing is considered competitive for the features it offers. 2.15 Cezanne HR Cezanne HR is a leading software designed for mid-sized companies, catering to 100-3,000 employees. This modern, feature-rich HR system is known for its quick implementation and adaptability, offering a fast return on investment. It provides integrated modules for core HR tasks, onboarding, performance management, absence management, recruitment, time tracking, pulse surveys, and career and succession planning. Its user-friendly interface, customizability, and excellent customer support make it an excellent choice for businesses. Cezanne HR not only complies with GDPR regulations but is also ISO27001 certified. The system is trusted in over 120 countries worldwide. 3. Final Note: Future Trends in Workforce Management As 2024 approaches, the landscape of workforce management is evolving, marked by several transformative trends. Foremost among these is the integration of automation technologies and AI in workforce management that is reshaping human resources by automating significant portions of work and enhancing employee experiences. Concurrently, the adoption of employee self-service tools is on the rise, offering employees greater control over their schedules, benefits, and other aspects of their work life, thus fostering greater engagement and efficiency. Reflecting a growing emphasis on work-life balance, hybrid and remote work models are becoming more commonplace, driven by their ability to offer flexibility and a better balance between professional and personal life. This shift is part of a broader trend toward digital transformation in the workplace, where technological advancements are streamlining operations and necessitating ongoing employee training to keep pace with new tools and systems. Diversity, Equity, and Inclusion (DEI) are also gaining importance as critical components of successful workforce management, with strategies being implemented to create more inclusive and equitable workplaces. All of these suggest that parallel to them, the nature of leadership and management must also evolve, with a greater focus on building an employee-centric culture and promoting fair and transparent practices. Collectively, these trends indicate a future of workforce management that is technology-driven, adaptable, and increasingly focused on enhancing the employee experience.

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Recruitment & Retention

The Definitive Guide to Streamlining Workforce Management in 2024

Article | August 19, 2022

Modern workforce management plays a critical role in the success of an organization. As evolving trends reshape HR practices, they simultaneously enhance employee productivity and propel market growth. Contents 1 Significance of Adopting Workforce Management in 2024 2 Understanding Modern Workforce Dynamics 3 Future Trends in Workforce Management 3.1 Embracing Remote and Hybrid Work Models 3.2 Enhancing Employee Experience and Well-Being: A Shift in Workforce Management 3.3 The Integration of the Gig Economy into Corporate Culture 3.4 Leveraging AI and ML for Workforce Management 4 Top Solution Providers: Leading Firms in Workforce Management 5 Conclusion 1. Significance of Adopting Workforce Management in 2024 Automation AI, and ML (machine learning) are a few of the terms dominating the market today. These technological advancements are not limited to traditional operational domains but have extended their influence into Human Resources as well. As organizations strive to streamline their operations, reduce costs, and maximize the potential of their workforce, they are increasingly turning to these innovations in modern workforce management. In the era of digitization, companies recognize the need to optimize their workforce effectively and leverage the benefits of workforce management. This realization has led to a paradigm shift in HR practices, where 16% of employers are leveraging technology more frequently to monitor their employees. These methods include using virtual time clock systems, tracking work computer usage, and monitoring employee emails, internal communications, and chat platforms. Such monitoring ensures accountability and provides valuable insights into employee productivity and engagement. The growing adoption of these advanced technologies in HR and the broader workforce management domain underscores the urgency and necessity of embracing leading solutions. The statistics speak for themselves, as the global workforce management market is projected to soar to a staggering USD 9.3 billion by 2025, exhibiting a robust CAGR of 9.3%. This projection is a testament to the transformative impact that technology has on how organizations manage and harness the potential of their workforce. As businesses continue to operate in an increasingly competitive and dynamic environment, staying ahead of the curve in workforce management is paramount. Embracing these technological solutions not only enhances efficiency and cost-effectiveness but also empowers organizations to make data-driven decisions, optimize resource allocation, and ultimately thrive in the evolving modern workplace. The journey toward a more efficient and productive workforce is well underway, and the strategic integration of workforce management is a crucial step in that direction. 2. Understanding Modern Workforce Dynamics The evolution of workforce management is not only a reflection of technological advancements, but also a response to the changing demographics and preferences of the workforce. Businesses must note that millennials, who are tech savvy and internet native, constitute a significant portion (30%) of the workforce today. This shift necessitates that organizations not only adopt advanced technology but also to rethink their approach to workforce management, which has experienced a profound transformation, transitioning from traditional approaches to more sophisticated IT and technological solutions. Millennials are accustomed to the rapid pace of technological advancements, and their expectations regarding the workplace are high. To attract and retain this talent pool, businesses must align their workforce management strategies with the digital age. The integration of innovative workforce management solutions can transform how organizations operate. Advanced tools and software enable more efficient forecasting and budgeting, staff scheduling, and time and attendance tracking. Moreover, the focus has extended to more nuanced aspects like employee performance management, compliance, and benefits administration. This comprehensive approach ensures that all facets of workforce management are streamlined and efficient. Automation of these processes is a critical element, as organizations free up their employees by automating routine tasks to focus on more strategic and creative work. This enhances productivity and contributes to greater job satisfaction as employees are engaged in more meaningful work. Additionally, the data generated from these automated processes is a goldmine for insights. Analyzing this data can help organizations identify patterns, forecast future trends, and make informed decisions, thereby staying ahead in a competitive market. 3. Future Trends in Workforce Management Organizational needs are in a state of continuous evolution, reshaping the dynamics that define them. Workforce management, in particular, has undergone significant advancements in recent years, a trend accelerated by the COVID-19 pandemic. Experts predict this progression will persist in the foreseeable future. In response to this changing environment, businesses must adapt their workforce management strategies to meet the needs of the markedly different workforce of 2024. This adaptation is crucial for maintaining competitiveness in the years ahead. In today's fiercely competitive market, it is incumbent upon employers to cultivate an environment where employees are engaged and motivated. Understanding and embracing current trends can be a key strategy in achieving this. Therefore, when considering the adoption of workforce management software, it's essential to take these prevailing workforce trends into account. 3.1 Embracing Remote and Hybrid Work Models The pandemic has significantly reshaped the work landscape, introducing both organizations and employees to the potential of remote work. The preference for these models has grown since, and despite the initial eagerness of employers for a swift return to office-based work, employees have increasingly shown a preference for remote or hybrid models. Research conducted by McKinsey highlights the enduring nature of this shift, indicating that hybrid work is more than just a temporary trend. This survey found that 85% of employees currently engaged in hybrid work models prefer this over traditional on-site models. This preference comes at a time when many organizations are grappling with challenges such as employee burnout, mental health issues, and high turnover rates. Leaders who have been viewing in-person work as a pathway back to normalcy are now faced with the reality of employees' strong inclinations toward flexible working arrangements and growing power to seek such options. Therefore, organizations must adapt to this change not just as a temporary measure but as a long-term strategy. This includes investing in technology that supports remote collaboration, establishing clear communication protocols, and rethinking performance management in a way that is suited for remote and hybrid environments. 3.2 Enhancing Employee Experience and Well-Being: A Shift in Workforce Management In recent years, there has been a strong emphasis on enriching the employee experience. This trend reflects companies’ growing recognition of the value their employees bring to the table. Businesses are increasingly engaging their workforce in meaningful ways, fostering a sense of belonging and importance rather than treating employees as mere replaceable units. Today's workforce craves personalized rewards, enriching experiences, and tailored development opportunities more than ever, underscoring the importance of this approach in modern business practices. Investing in employee well-being is not just a moral imperative but also a strategic one, as it directly impacts productivity, retention, and overall business performance. These past few years have been quite educational, bringing forth new terms like quiet quitting and the great attrition, highlighting the evolving dynamics of the workplace. Consequently, for workforce management in 2024, it is important for corporate leaders to prioritize staff retention, maintain a healthy work-life balance, and encourage global collaboration to adapt to these changing trends. 3.3 The Integration of the Gig Economy into Corporate Culture As corporations adapt to increasingly flexible work environments, the percentage of contract workers and freelancers within the corporate culture is set to expand. A Gartner study forecasts that by 2026, freelancers will comprise 35% of the global workforce, a substantial rise from the 9% recorded in 2020. This trend requires organizations to rethink their workforce strategies to include more flexible and inclusive approaches for integrating this dynamic segment of the workforce. It includes adapting payroll systems, adopting effective collaboration tools, and creating policies that ensure a seamless integration of freelancers into the corporate culture. 3.4 Leveraging AI and ML for Workforce Management The next frontier in workforce management is the incorporation of artificial intelligence (AI) and machine learning (ML), which can prove to be game changers. These technologies can provide predictive analytics, enabling organizations to make proactive decisions. For example, AI can predict staffing needs based on historical data, helping managers to optimize schedules and reduce labor costs. Similarly, ML algorithms can analyze employee performance data to identify training needs or forecast potential compliance issues. 4. Top Solution Providers: Leading Firms in Workforce Management IntelliHR IntelliHR is an Australian company specializing in cloud-based People Management Software-as-a-Service. Its platform is designed to streamline HR processes, focusing on employee engagement, performance management, and data-driven insights. The company’s solutions provide tools for continuous feedback, goal tracking, and analytics, all integrated into a user-friendly interface. The platform emphasizes the use of analytics and automation to help organizations make informed decisions about their workforce, aligning employee performance with company goals. Additionally, IntelliHR offers features like compliance tracking and HR reporting, making it a comprehensive tool for modern HR management. Quinyx Quinyx is a workforce management software company known for its solutions that cater primarily to businesses relying on a frontline workforce. Its frontline platform offers a range of features, including employee scheduling, time reporting, communication, task management, and labor forecasting. The software is designed to streamline the complex processes of managing a flexible workforce, with a strong emphasis on the optimization of labor costs. Quinyx’s solutions aim to improve workforce efficiency, reduce administrative burdens, and enhance employee satisfaction. When I Work When I Work is a leading shift-based workforce management software solution provider. Its platform is known for its user-friendly interface and mobile app, which facilitates easy scheduling and includes a time clock and communication features. It's particularly popular in industries with hourly workers. Key features of the platform include employee scheduling, shift swapping, time tracking, and attendance management, all accessible through both web and mobile applications. The platform aims to improve workforce management by reducing the time spent on scheduling, minimizing labor costs, and enhancing communication between managers and employees. Arcoro Arcoro is a comprehensive workforce management software provider that offers solutions primarily for the construction industry. Its suite of products is designed to help businesses manage their workforce more effectively, focusing on aspects such as talent acquisition, time and attendance, core HR, performance management, and more. Key features of Arcoro's solutions include applicant tracking systems (ATS) for streamlined recruitment, employee onboarding tools, benefits management, and performance evaluation systems. The company software solution also offers workforce planning, compliance, and analytics modules. OnePoint Human Capital Management OnePoint Human Capital Management is an enterprise-class HCM solution provider offering a wide range of HR-related functionalities. The company's platform is known for its unified database architecture, which means that all aspects of HR, payroll, and talent management are integrated into a single system. This integration allows HR to save time, lower costs, stay compliant with streamlined workflows, automate processes, and integrate reporting across all HR functions. Key features of OnePoint HCM include payroll processing, time and attendance tracking, HR management, benefits administration, and talent management. Legion Technologies Legion Technologies, at the forefront of innovation, is a cutting-edge workforce management software provider. The Legion WFM platform, characterized by its intelligence, automation, and focus on employee needs, demonstrates an impressive capacity to yield a thirteen-fold return on investment. This is achieved through its effective schedule optimization, lowering of employee turnover, boosting of productivity, and enhancement of operational efficiency. Catering to a diverse range of sectors, including retail, hospitality, food service, and health and fitness, Legion Technologies stands as a versatile and impactful choice for businesses seeking to streamline their workforce management. Sentric Sentric is a provider of cloud-based Human Resources (HR) and payroll software solutions across various industries. Its platform, SentricHR, is designed to offer a comprehensive suite of HR functionalities in a single, integrated system. Key features of SentricHR include payroll processing, HR and benefits administration, talent management, and time and attendance tracking. The platform allows businesses to streamline their HR processes, from recruiting and onboarding new hires to managing employee data, tracking time-off requests, and processing payroll. Hubstaff Hubstaff is a software company that provides a suite of time-tracking and productivity-monitoring tools, primarily catering to remote and hybrid teams. The company's flagship product, also named Hubstaff, is known for its robust features that help businesses efficiently manage their workforce, especially in a remote or distributed work environment. Hubstaff's tools are designed to automate several administrative tasks, such as invoicing clients based on time tracked, and paying team members. The software integrates with a wide range of other tools and platforms, such as project management software, to provide a seamless workflow. Assembled Assembled is workforce management software specifically tailored for support teams. It focuses on helping businesses optimize their support operations through advanced scheduling, forecasting, and analytics tools. The platform is designed to address the unique challenges faced by customer support teams, particularly those working in BPOs or handling high volumes of customer interactions. The software's forecasting capabilities are another major highlight, providing accurate predictions of staffing needs based on historical data and trends. Deputy Deputy is a global workforce management software provider renowned for its workforce management solutions that cater to businesses of all sizes across various industries. The platform specializes in simplifying scheduling, time tracking, task assigning, and communication among employees and managers. Deputy's comprehensive suite of features aims to streamline operations, reduce administrative tasks, and ensure compliance, making it a highly effective solution for businesses of all sizes. 5. Conclusion As younger generations increasingly populate the workforce, a shift in focus toward enhancing employee experience is becoming evident. This shift is indicative of the future of workforce management. The challenges of managing a workforce have intensified due to evolving market dynamics and the growing diversity and dispersal of employees. Effective workforce management is now more crucial than ever. Organizations that fail to implement integrated workforce management technology risk detrimental impacts on their financial performance. In today's environment, employees seek greater flexibility and control over their work. Consequently, workforce solutions adopted by organizations must consider these preferences. Key focus areas for corporate leaders in the upcoming period will include employee retention, fostering work-life balance, and enhancing collaboration. The new era of employment requires unprecedented adaptability, and staying abreast of the emerging trends in workplace efficiency is vital for businesses aiming for long-term success.

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Listen and act: how to get employee experience management right

Article | February 11, 2020

As the science behind employee engagement evolves, it’s become clear just how much businesses can gain from a happy and involved workforce. From improved performance, to reduced attrition, increased revenue and even a better customer experience, employee engagement is at the heart of business growth. Given these benefits, it’s no surprise that the role of HR departments is moving beyond just managing people and towards managing experiences.

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Sweden HR group

Sweden HR Group is an HR expert and offers tailor made HR solutions to companies and organizations regardless of industry and size.

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Modern HR Software Solutions Introduce New Features to Enhance Workplace Efficiency in 2024

Factorial | February 05, 2024

With the New Year underway, many businesses are reevaluating their HR software solutions to increase efficiency and effectiveness in the evolving HR management landscape. Gartner data highlights that businesses frequently replace HR software due to system inefficiencies, missing features, and reliability concerns. Key reasons for dissatisfaction include inefficiency (34%), insufficient functionality (29%), and unreliability (13%). In response to these challenges, modern HR software solutions are offering five new features designed to enhance efficiency within its software AI-powered Applicant Tracking System : New AI-powered Applicant Tracking System (ATS) to streamline the traditional CV screening process, a major bottleneck in recruitment. This innovative feature allows hiring managers to assess applications based on various criteria such as company values, job descriptions, CVs, offer letters, and custom questions. The result is a significant reduction in screening time, ensuring a comprehensive evaluation process. Geofencing Precision: Geofencing Precision addresses challenges faced by organizations with multiple locations or flexible policies. By incorporating geofencing capabilities into its time-tracking features, HR software solutions help prevent unauthorized overtime, a key contributor to increased labor costs and decreased workforce productivity. This enhancement allows HR leaders to enforce accurate clock-ins at designated workplaces, thereby reducing labor costs and enhancing employee accountability. Insights V2 Data Analytics. Insights V2 provides organizations with comprehensive data for informed decision-making. Users can now filter company data using multiple parameters, simplifying the process of checking and exporting valuable metrics in real-time. This timely and accurate insight is crucial for strategic decision-making. Time-Saving Documentation: Time-Saving Documentation enables users to pre-fill forms with document templates and fillable PDFs. This streamlined process, combined with personalized data, enhances efficiency for employees verifying information, meeting the growing demand for tools that simplify administrative processes. Seamless Payroll Integration: HR software solutions are seamlessly integrating payroll and benefits administration with HR management processes. This aims to enhance organizational efficiency by reducing manual errors, improving accuracy, and fostering collaboration between HR and finance departments. Recognizing this, Factorial, a leading provider of HR software solutions, is introducing innovative features from AI-powered applicant tracking to payroll integration. Jordi Romero, Co-founder and CEO of Factorial, emphasizes, "These new features reflect our dedication to empowering HR teams globally. By harnessing the power of technology, we aim to transform the way organizations approach human resources, fostering efficiency, collaboration, and success." As businesses strive for greater efficiency and effectiveness in the new year, Factorial is committed to providing support and solutions. About Factorial Founded in 2016, Factorial offers people-centric solutions for HR teams, automating processes so they have more time to dedicate to the people within their organization. With over 75,000 users across 65+ countries, Factorial serves clients such as KFC, Booking.com, and Whisbi. Factorial became Europe's newest Unicorn in 2022 following a Series C investment round.

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Payroll

Novo Announces Novo Payroll for Small Businesses, Powered by Check

Check | January 25, 2024

Novo, the powerfully simple® financial solutions platform for small businesses, announced Novo Payroll. Working with Check, the leading payroll infrastructure company that pioneered the ability for platforms to embed payroll into their products, Novo has launched a payroll solution that is fully integrated into Novo’s platform of small business banking, budgeting, and working capital solutions, enabling small businesses to manage their finances from a single platform. “Traditional small business payroll solutions consist of standalone applications characterized by high fees, burdensome cash-on-hand requirements, and either clunky or non-existent integrations between payroll and business bank accounts,” said Michael Rangel, founder and CEO of Novo. “In collaboration with Check, we built a payroll solution that simplifies and speeds up the process of paying small business employees." Novo leveraged Check’s embedded payroll API to build Novo Payroll. With coverage in all 50 states, Novo Payroll streamlines the entire payroll process, from calculating wages to facilitating direct deposits and managing tax withholdings. This provides businesses with a comprehensive payroll solution that not only reduces administrative burdens but also ensures accuracy and compliance with regulatory standards. Novo has conducted a beta of Novo Payroll, and will make the product available to Novo’s more than 200,000 small business customers in the coming weeks. Key features of Novo Payroll include Affordable, flat-rate pricing: Unlike other payroll platforms where individuals have to pay extra for a range of features, Novo offers all of its essential features — including state and tax filings, end of year reports, and more — at $35 per month plus a small fee per worker. Working capital for payroll: Small businesses who may need additional funds for a payroll cycle can apply for Novo Funding, a fast and flexible way to access working capital that’s available exclusively to Novo customers. Once approved for Novo Funding, customers can use the capital in minutes. Next day payments: With Novo Payroll, recipients can opt in to receive their paychecks the day after payroll is processed at no additional charge. Instead of needing the necessary payroll funds days in advance, small business owners simply need to have funds available the day of payroll processing. Built-in accounting and budgeting tools: Since Novo Payroll is fully embedded into the Novo platform, customers can seamlessly set aside funds for payroll, taxes, savings, and more using Novo Reserves. Single- and multi-state payroll: Novo Payroll automates state tax filings for small businesses that have employees in a single state, as well as in multiple states. Human-powered customer service: Novo Payroll customers have access to a range of resources to assist with payroll questions, including the option to call a Novo Payroll expert. “We founded Check with the goal of making payroll easier for as many small businesses as possible. By partnering with Novo, we’re able to reach an even broader set of businesses, giving them the tools they need to save time and money on what is all-too-often a cumbersome task,” said Andrew Brown, co-founder and CEO of Check. “Novo has already burnished its credentials as a leading provider of financial services for small businesses. By embedding Check’s payroll, Novo is able to provide a one-stop-shop for small business financial needs.” Novo Payroll is the latest in a series of products Novo has built for its small business financial solutions platform. Recently, Novo announced a range of updates to Novo Invoices, the company’s free invoicing application that small businesses have used to receive more than $500 million in payments. Novo also announced Novo Funding, offering small businesses a fast and flexible way to access working capital. About Novo Novo Platform, Inc. (“Novo”) is the powerfully simple financial platform for small businesses. About Check Check is the leading payroll platform that pioneered the ability for companies to differentiate and open up new revenue streams by embedding payroll into their platforms. Historically, complex regulatory structures stagnated payroll innovation, making it harder for businesses to create their own payroll offerings. By building on Check’s best in class infrastructure, flexible API, and deep expertise, platforms can launch profitable payroll businesses much faster, and with little overhead or administrative burden. Since Check’s public launch in January 2021, leading vertical SaaS companies and large scale workforce management horizontal platforms have built successful payroll businesses on its infrastructure. Check’s partners collectively serve more than 250,000 businesses and over 4 million employees. Check is backed by Stripe, Thrive Capital, Index Ventures, and Bedrock.

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Payroll

ADP® Assist with Generative AI Features Makes HCM Decisions Easy, Smart and Human

ADP | February 02, 2024

ADP®, a leading global technology company providing human capital management (HCM) solutions, announces the availability of ADP Assist, a cross-platform solution powered by generative AI (GenAI). ADP Assist enhances HR productivity, aids decision-making with data-driven insights, and streamlines day-to-day tasks for practitioners, managers, employees and executives with simple, human-like conversations. It harnesses the power of ADP's unparalleled data and expertise along with GenAI to simplify the world of work. ADP Assist builds on ADP's current AI capabilities and is currently in early release with some ADP clients today with a planned rollout for all clients. "For 75 years, ADP has been at the forefront of payroll and HR innovation. With ADP Assist, we're providing an intelligent platform that simplifies HR tasks, leaving time for people leaders to be more strategic," says Maria Black, president and chief executive officer of ADP. "It's not just another technical solution; it's a comprehensive experience that combines ADP's unmatched HCM dataset and expertise to empower HR professionals, leaders and employees." Data Drives Innovation Data is at the core of all ADP products and solutions, informing and driving ADP's approach to innovation and AI technology. ADP has the industry's largest and deepest HCM dataset with over one million clients spanning 140 countries and 41 million wage earners globally. ADP's extensive and unique dataset is used to train ADP's AI to anticipate what users want and need. ADP Assist turns unmatched data into highly credible and actionable insights so that clients can make smarter decisions. Easy, Smart and Human "In a constantly changing workplace, innovation must keep up and meet people's real-world needs," says Sreeni Kutam, president of global product and innovation at ADP. "ADP Assist is the next step in our vision to create an HR ecosystem that is not only efficient but empowers employees and HR professionals alike. We've created a platform that understands the complexities and dynamics of modern HR management and offers smart, user-centric solutions. And, as always, we are committed to the secure and ethical use of data to support these technologies." ADP Assist seamlessly integrates with ADP products across multiple ADP platforms. It anticipates what users want and proactively delivers actionable insights in plain language. Using an intuitive, conversational interface, ADP Assist provides valuable and contextual insights which touch every aspect of HR – payroll, time, talent, benefits, recruitment, analytics, reporting and compliance. ADP's portfolio of currently available GenAI- and AI-powered tools deliver the following capabilities Easy payroll. ADP Assist validates payroll information. It checks for payroll anomalies and uses GenAI to identify and help resolve missing tax registrations and answer questions by drawing on ADP's large, up-to-date dataset of compliance information. This saves HR effort and helps clients to ensure employees are paid accurately and on time. Smart analytics. ADP Assist uses GenAI to dramatically simplify report creation by understanding context and generating insightful reports in an easy-to-understand format. HR practitioners and leaders can easily access internal, national and global workforce data from ADP's deep HCM dataset to analyze compensation, turnover, candidate profile relevancy and talent market insights. Human insights. Intelligent and AI-based HR support for employees and clients can anticipate and solve common employee problems across HR, payroll, time and benefits. This reduces frustration for employees and eliminates certain low-value tasks for managers and HR practitioners. ADP Assist can send personalized, proactive notifications to employees on their mobile device or desktop to help resolve HR issues quickly, keeping them productive. AI-powered conversational interface makes it easy for employees to get the information they need without involving HR. Search by Intent. The RUN Powered by ADP payroll and HR solution features an omni search bar that understands intent behind the search terms and uses GenAI to mine ADP's deep knowledge base to deliver easy-to-use and effective content. "In the age of AI, the better the data, the better the artificial intelligence," says Holger Mueller, vice president and principal analyst for Constellation Research, Inc. "ADP is uniquely well-positioned in the field of HCM vendors given the breadth and depth of its data. ADP is using that data to make AI more human, focusing on customer success in a worldwide space. This really makes a difference not only for HR practitioners but for leaders and employees." About ADP Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people.

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HR Practice

Modern HR Software Solutions Introduce New Features to Enhance Workplace Efficiency in 2024

Factorial | February 05, 2024

With the New Year underway, many businesses are reevaluating their HR software solutions to increase efficiency and effectiveness in the evolving HR management landscape. Gartner data highlights that businesses frequently replace HR software due to system inefficiencies, missing features, and reliability concerns. Key reasons for dissatisfaction include inefficiency (34%), insufficient functionality (29%), and unreliability (13%). In response to these challenges, modern HR software solutions are offering five new features designed to enhance efficiency within its software AI-powered Applicant Tracking System : New AI-powered Applicant Tracking System (ATS) to streamline the traditional CV screening process, a major bottleneck in recruitment. This innovative feature allows hiring managers to assess applications based on various criteria such as company values, job descriptions, CVs, offer letters, and custom questions. The result is a significant reduction in screening time, ensuring a comprehensive evaluation process. Geofencing Precision: Geofencing Precision addresses challenges faced by organizations with multiple locations or flexible policies. By incorporating geofencing capabilities into its time-tracking features, HR software solutions help prevent unauthorized overtime, a key contributor to increased labor costs and decreased workforce productivity. This enhancement allows HR leaders to enforce accurate clock-ins at designated workplaces, thereby reducing labor costs and enhancing employee accountability. Insights V2 Data Analytics. Insights V2 provides organizations with comprehensive data for informed decision-making. Users can now filter company data using multiple parameters, simplifying the process of checking and exporting valuable metrics in real-time. This timely and accurate insight is crucial for strategic decision-making. Time-Saving Documentation: Time-Saving Documentation enables users to pre-fill forms with document templates and fillable PDFs. This streamlined process, combined with personalized data, enhances efficiency for employees verifying information, meeting the growing demand for tools that simplify administrative processes. Seamless Payroll Integration: HR software solutions are seamlessly integrating payroll and benefits administration with HR management processes. This aims to enhance organizational efficiency by reducing manual errors, improving accuracy, and fostering collaboration between HR and finance departments. Recognizing this, Factorial, a leading provider of HR software solutions, is introducing innovative features from AI-powered applicant tracking to payroll integration. Jordi Romero, Co-founder and CEO of Factorial, emphasizes, "These new features reflect our dedication to empowering HR teams globally. By harnessing the power of technology, we aim to transform the way organizations approach human resources, fostering efficiency, collaboration, and success." As businesses strive for greater efficiency and effectiveness in the new year, Factorial is committed to providing support and solutions. About Factorial Founded in 2016, Factorial offers people-centric solutions for HR teams, automating processes so they have more time to dedicate to the people within their organization. With over 75,000 users across 65+ countries, Factorial serves clients such as KFC, Booking.com, and Whisbi. Factorial became Europe's newest Unicorn in 2022 following a Series C investment round.

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Payroll

Novo Announces Novo Payroll for Small Businesses, Powered by Check

Check | January 25, 2024

Novo, the powerfully simple® financial solutions platform for small businesses, announced Novo Payroll. Working with Check, the leading payroll infrastructure company that pioneered the ability for platforms to embed payroll into their products, Novo has launched a payroll solution that is fully integrated into Novo’s platform of small business banking, budgeting, and working capital solutions, enabling small businesses to manage their finances from a single platform. “Traditional small business payroll solutions consist of standalone applications characterized by high fees, burdensome cash-on-hand requirements, and either clunky or non-existent integrations between payroll and business bank accounts,” said Michael Rangel, founder and CEO of Novo. “In collaboration with Check, we built a payroll solution that simplifies and speeds up the process of paying small business employees." Novo leveraged Check’s embedded payroll API to build Novo Payroll. With coverage in all 50 states, Novo Payroll streamlines the entire payroll process, from calculating wages to facilitating direct deposits and managing tax withholdings. This provides businesses with a comprehensive payroll solution that not only reduces administrative burdens but also ensures accuracy and compliance with regulatory standards. Novo has conducted a beta of Novo Payroll, and will make the product available to Novo’s more than 200,000 small business customers in the coming weeks. Key features of Novo Payroll include Affordable, flat-rate pricing: Unlike other payroll platforms where individuals have to pay extra for a range of features, Novo offers all of its essential features — including state and tax filings, end of year reports, and more — at $35 per month plus a small fee per worker. Working capital for payroll: Small businesses who may need additional funds for a payroll cycle can apply for Novo Funding, a fast and flexible way to access working capital that’s available exclusively to Novo customers. Once approved for Novo Funding, customers can use the capital in minutes. Next day payments: With Novo Payroll, recipients can opt in to receive their paychecks the day after payroll is processed at no additional charge. Instead of needing the necessary payroll funds days in advance, small business owners simply need to have funds available the day of payroll processing. Built-in accounting and budgeting tools: Since Novo Payroll is fully embedded into the Novo platform, customers can seamlessly set aside funds for payroll, taxes, savings, and more using Novo Reserves. Single- and multi-state payroll: Novo Payroll automates state tax filings for small businesses that have employees in a single state, as well as in multiple states. Human-powered customer service: Novo Payroll customers have access to a range of resources to assist with payroll questions, including the option to call a Novo Payroll expert. “We founded Check with the goal of making payroll easier for as many small businesses as possible. By partnering with Novo, we’re able to reach an even broader set of businesses, giving them the tools they need to save time and money on what is all-too-often a cumbersome task,” said Andrew Brown, co-founder and CEO of Check. “Novo has already burnished its credentials as a leading provider of financial services for small businesses. By embedding Check’s payroll, Novo is able to provide a one-stop-shop for small business financial needs.” Novo Payroll is the latest in a series of products Novo has built for its small business financial solutions platform. Recently, Novo announced a range of updates to Novo Invoices, the company’s free invoicing application that small businesses have used to receive more than $500 million in payments. Novo also announced Novo Funding, offering small businesses a fast and flexible way to access working capital. About Novo Novo Platform, Inc. (“Novo”) is the powerfully simple financial platform for small businesses. About Check Check is the leading payroll platform that pioneered the ability for companies to differentiate and open up new revenue streams by embedding payroll into their platforms. Historically, complex regulatory structures stagnated payroll innovation, making it harder for businesses to create their own payroll offerings. By building on Check’s best in class infrastructure, flexible API, and deep expertise, platforms can launch profitable payroll businesses much faster, and with little overhead or administrative burden. Since Check’s public launch in January 2021, leading vertical SaaS companies and large scale workforce management horizontal platforms have built successful payroll businesses on its infrastructure. Check’s partners collectively serve more than 250,000 businesses and over 4 million employees. Check is backed by Stripe, Thrive Capital, Index Ventures, and Bedrock.

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Payroll

ADP® Assist with Generative AI Features Makes HCM Decisions Easy, Smart and Human

ADP | February 02, 2024

ADP®, a leading global technology company providing human capital management (HCM) solutions, announces the availability of ADP Assist, a cross-platform solution powered by generative AI (GenAI). ADP Assist enhances HR productivity, aids decision-making with data-driven insights, and streamlines day-to-day tasks for practitioners, managers, employees and executives with simple, human-like conversations. It harnesses the power of ADP's unparalleled data and expertise along with GenAI to simplify the world of work. ADP Assist builds on ADP's current AI capabilities and is currently in early release with some ADP clients today with a planned rollout for all clients. "For 75 years, ADP has been at the forefront of payroll and HR innovation. With ADP Assist, we're providing an intelligent platform that simplifies HR tasks, leaving time for people leaders to be more strategic," says Maria Black, president and chief executive officer of ADP. "It's not just another technical solution; it's a comprehensive experience that combines ADP's unmatched HCM dataset and expertise to empower HR professionals, leaders and employees." Data Drives Innovation Data is at the core of all ADP products and solutions, informing and driving ADP's approach to innovation and AI technology. ADP has the industry's largest and deepest HCM dataset with over one million clients spanning 140 countries and 41 million wage earners globally. ADP's extensive and unique dataset is used to train ADP's AI to anticipate what users want and need. ADP Assist turns unmatched data into highly credible and actionable insights so that clients can make smarter decisions. Easy, Smart and Human "In a constantly changing workplace, innovation must keep up and meet people's real-world needs," says Sreeni Kutam, president of global product and innovation at ADP. "ADP Assist is the next step in our vision to create an HR ecosystem that is not only efficient but empowers employees and HR professionals alike. We've created a platform that understands the complexities and dynamics of modern HR management and offers smart, user-centric solutions. And, as always, we are committed to the secure and ethical use of data to support these technologies." ADP Assist seamlessly integrates with ADP products across multiple ADP platforms. It anticipates what users want and proactively delivers actionable insights in plain language. Using an intuitive, conversational interface, ADP Assist provides valuable and contextual insights which touch every aspect of HR – payroll, time, talent, benefits, recruitment, analytics, reporting and compliance. ADP's portfolio of currently available GenAI- and AI-powered tools deliver the following capabilities Easy payroll. ADP Assist validates payroll information. It checks for payroll anomalies and uses GenAI to identify and help resolve missing tax registrations and answer questions by drawing on ADP's large, up-to-date dataset of compliance information. This saves HR effort and helps clients to ensure employees are paid accurately and on time. Smart analytics. ADP Assist uses GenAI to dramatically simplify report creation by understanding context and generating insightful reports in an easy-to-understand format. HR practitioners and leaders can easily access internal, national and global workforce data from ADP's deep HCM dataset to analyze compensation, turnover, candidate profile relevancy and talent market insights. Human insights. Intelligent and AI-based HR support for employees and clients can anticipate and solve common employee problems across HR, payroll, time and benefits. This reduces frustration for employees and eliminates certain low-value tasks for managers and HR practitioners. ADP Assist can send personalized, proactive notifications to employees on their mobile device or desktop to help resolve HR issues quickly, keeping them productive. AI-powered conversational interface makes it easy for employees to get the information they need without involving HR. Search by Intent. The RUN Powered by ADP payroll and HR solution features an omni search bar that understands intent behind the search terms and uses GenAI to mine ADP's deep knowledge base to deliver easy-to-use and effective content. "In the age of AI, the better the data, the better the artificial intelligence," says Holger Mueller, vice president and principal analyst for Constellation Research, Inc. "ADP is uniquely well-positioned in the field of HCM vendors given the breadth and depth of its data. ADP is using that data to make AI more human, focusing on customer success in a worldwide space. This really makes a difference not only for HR practitioners but for leaders and employees." About ADP Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people.

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