Paylocity | August 04, 2021
Today, HR and Payroll software provider Paylocity announced continued momentum and adoption of its Modern Workforce Solutions that include innovative features such as Community, Premium Video, Surveys, Learning Management and the recently launched Modern Workforce Index. Companies are leveraging these features to help elevate the employee experience in the current competitive environment, where attracting and retaining talent has become paramount. The company has also received recognition for these solutions from third-party organizations including G2 and Lighthouse Research and Advisory.
In the fiscal year ending June 30, client usage of Community announcements on the Paylocity platform increased by over 150% year-over-year, and total announcements doubled this Spring compared to the same period in 2020. Community is a single source for announcements, group collaboration, and messaging that improves communication effectiveness and employee engagement compared to broadcast emails or antiquated intranets. Monthly unique visitors of Community on the Paylocity platform doubled in the last year, and employees created hundreds of thousands of interactions per month, including reactions and comments. Most of this activity happens on mobile devices, where the employee user experience mirrors the social media apps that people are accustomed to using every day, including the use of video. Community has seen rapid adoption by companies with dispersed workforces – including mobile and remote employees, contractors and shift workers, or other "deskless" workers that may not have regular access to corporate email or computer terminals.
In addition, monthly video creation in the last four months steadily outpaced the first four months of 2021, and the number of videos created on the platform as of June 2021 was nearly triple the total from December 2020 as clients use videos across the platform in Community, Learning Management, Onboarding, and Recruiting.
Another increasingly popular capability of the Paylocity platform is the ability to generate Surveys to uncover employee needs and open the door for ongoing and transparent conversations. Millions of surveys were completed last year using the Paylocity platform, including popular ready-to-use templates available to customers.
Michigan-based manufacturer Revere Plastics relies on Paylocity to create a strong culture and compete with larger chains to attract and retain talent. Kristi Stuetzer, VP of HR for Revere Plastics commented, "We needed a system that could help build our culture, connect our 1,200 employees across nine plants, and give our HR team useful data. Paylocity cut our HR team's onboarding work by 25-30% and helped us increase engagement with Surveys, Community, and Video, and our employees have embraced these tools." When Revere Plastics transitioned its employee NPS survey to Paylocity, the response rate went from less than 1% to more than 40%. Stuetzer explained that Paylocity is helping "build relationships with people and build our culture. And for the first time, now we have a pulse on both."
Paylocity clients also have access to deep insights into their organization through the Modern Workforce Index (MWI). Built with patent-pending artificial intelligence, MWI is a unified dashboard of how well clients are doing with step-by-step ways to improve engagement. They can see their overall scores and compare performance to peers – then break down results across tool utilization, employee sentiment, and organizational health. Companies with higher MWI scores show 15-25% lower attrition and higher headcount growth.
VStyles, a collection of hair salon franchises in Southern California with 150 employees, was unable to gain relevant business insights, such as company turnover, with their prior human capital management system. VStyles transitioned to Paylocity to accommodate specific compliance and regulatory needs and gain efficiencies in reporting. Using MWI, they were also able to index where the salons were against the industry and make decisions with data driving the strategic vision for the franchises. "When we first accessed the data insights, we realized our turnover rate was high relative to peers in our industry," said VStyles Owner and HR Director Christy van de Sande. "We made some changes internally, such as offering incentives for employees who stayed longer than a year. We also spent more time training and investing in our employees' future. After our second year with Paylocity, our turnover was cut by more than 60%. It's gratifying as an owner to know that your investments are paying off," continued van de Sande.
Outside Recognition for Paylocity
Clients have also validated Paylocity's solutions through endorsements on G2. Paylocity was named an Overall Leader in seven HR and payroll product categories for enterprise and 12 categories for mid-market based on customer reviews. In addition, the company was awarded the "Best Solution for Talent Development" in the 2021 HR Tech Awards from Lighthouse Research and Advisory. Earlier this year, Paylocity also received the Top 100 BEST Award from the Association for Talent Development for excellence in building modern employee learning solutions.
Paylocity's continued growth and momentum is complemented by its leadership team's commitment to building a culture of caring for its customers and employees. Recent awards and recognition reinforce Paylocity's focus on retaining and attracting the best talent to serve clients. Paylocity ranked on the "Crain's Fast 50" list of the fastest-growing companies in the Chicago area for the eighth consecutive time and was recognized by Yahoo as one of the Top 20 companies with the happiest employees. The company once again was named Great Place to Work-Certified™ for 2021 by the GPTW Institute, a global authority in workplace culture. Paylocity's Chief Executive Officer Steve Beauchamp received a Glassdoor Employees' Choice Award honoring the Top CEOs among large companies in 2021 for the fourth time, and Paylocity's enterprise sales team was named both National Sales Team of the Year and Field Sales Team of the Year at the 15th Annual Stevie Awards for Sales & Customer Service.
Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based HR and payroll software solutions headquartered in Schaumburg, IL. Founded in 1997 and publicly traded since 2014, Paylocity offers an intuitive, easy-to-use product suite that helps businesses tackle today's challenges while moving them toward the promise of tomorrow. Known for its unique culture and consistently recognized as one of the best places to work, Paylocity accompanies its clients on the journey to create great workplaces and help people achieve their best through automation, data-driven insights, and engagement.
SkillStorm | April 12, 2022
On April 11th, leader in deploying specialized tech talent announced the acquisition of Talent Path, a company backed by Achieve Partners. It also announced the strategic investment it has secured from Achieve. Talent Path is an early tech career hire-train-deploy platform.
SkillStorm focuses on providing multiple pathways and apprenticeship programs for college graduates, service members, and veterans to launch tech careers.
"Talent Path is a company we've been following for several years. Like SkillStorm, Talent Path hires and trains tech talent based on client demand. And like SkillStorm, Talent Path is solving a major problem for their clients. We're delighted to welcome Talent Path's consultants and clients to the SkillStorm family."
-SkillStorm CEO Justin Vianello
"We're excited about this partnership with our friends at SkillStorm. This team has proven they can scale, and I can think of no better home for Talent Path. Our strategic investment will provide SkillStorm with the capital required to fully integrate Talent Path and supercharge growth to meet the tech talent needs of hundreds of additional clients."
-Aanand Radia, a managing director at Achieve
"We've worked with the SkillStorm team previously. What they've built in a short period of time demonstrates an impressive commitment to quality, and we have every confidence they will scale to hiring, training, and placing thousands of new consultants annually. We look forward to another very productive partnership."
-Achieve managing director Ryan Craig
Staffing Industry Analysts | January 03, 2022
On December 31st, the Staffing Industry Analysts (SIA) announced a list of the 52 fastest-growing staffing firms in the U.S. Freedom Healthcare ranked 26th on the list, reporting a compound annual growth rate of 26.2%. It was also reported to be the 10th fastest-growing staffing agency in the healthcare sector.
Freedom Healthcare is a rapid response healthcare staffing firm that fulfills the nationwide demand for nurses, clinical practitioners, and allied professionals in the healthcare industry.
SIA is a global advisory firm for staffing and workforce services. It releases an annual list of 52 of the fastest-growing staffing firms in the U.S. based on their compound annual growth rate (CAGR) of revenue between 2016 and 2020. According to SIA, the list represents the most premier staffing agencies that are delivering consistently and are uniquely positioned to meet the demands of a competitive hiring marketplace.
Freedom Healthcare has been focused on staffing both, healthcare specialists with highly coveted skills and consistently in-demand talent. The company has an above average fill rate of 96% and reported a 98% job completion rate, making it a forerunner of healthcare staffing agencies.
"We are honored to be recognized by SIA for our rapid growth. Our company's success can be attributed to the passion, commitment, and hard work displayed by our team across every department and leadership level."
-Susan Whitman, executive vice president and COO of Freedom Healthcare Staffing
Freedom has been at the forefront of delivering and deploying rapid response workers to healthcare organizations that were experiencing staff shortages during a critical time. Whitman further added, "Freedom's internal mantra of people over profits is unwavering. Leading our company with an employee-first mentality includes taking major stands on behalf of our nurses during the pandemic. Our vocal policies and requirements around employee safety ensure that we provide our travelers the same exceptional care they provide their patients. We can't thank our healthcare professionals or our client partners enough for returning our commitment with their loyalty this year. We are confident that this culture has been the reason Freedom has grown and will continue to grow in the years to come."