HR ANALYTICS,RECRUITMENT & RETENTION
Paychex | November 07, 2022
Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, has announced new enhancements designed to help improve the employee experience from pre-employment through retention. The latest products and solutions help provide a seamless experience for both employers and employees using Paychex Flex®, the company's SaaS-based HR application, as well as the customized service and HR advisory support available from Paychex.
"Now more than ever, a positive first impression with a prospective employer is essential. HR technology plays a critical role in how employers meet candidates, extend offers, digitally onboard, and retain employees through the first 90-days, when the chance for turnover is at its highest, The products included in our most recent release were developed to strengthen the employer-employee relationship and support businesses as they prioritize their workforces to create better experiences for increased employee retention and satisfaction."
-Tom Hammond, vice president of corporate strategy and product management
The 2022 Paychex Pulse of HR Report, an annual study commissioned by Paychex that provides an in-depth look at how HR leaders are adapting to support employees in a new era of work, found that 50% of respondents say that their organizations are not effective at hiring, onboarding, and retention.
The following solutions and product enhancements make up the current Paychex product release and the company's efforts to enhance the employee lifecycle and experience:
Paychex Flex Hiring: Makes hiring easier by automating tasks and actions for clients to quickly recruit and hire new talent. This Paychex Flex feature assists clients with a variety of recruitment tactics, from posting a job to digitally sending offer letters to top candidates. Paychex research has shown that three out of four clients surveyed said they have shortened the time required for recruiting, screening, tracking, and onboarding of new employees through using Paychex Flex. An average time savings of 26% was reported by those clients that reported a shortened timeframe. For example, a client's two-month recruiting and hiring cycle could be reduced to six weeks.
Paychex Flex Onboarding: Simplifies the onboarding experience by integrating essential steps directly within Paychex Flex. Advancements allow new hires to complete critical documentation, including direct deposit authorization, W4, state withholding forms, and Form I-9s from the device of choice for a paperless onboarding experience.
Paychex Flex Time: Helps create a seamless and unified experience for Paychex Flex Time admin and employee users for controlling scheduling needs, managing time off requests, approving employee timecards, and reviewing data to ensure accuracy for pay periods.
Flock Benefits Administration by Paychex: Provides clients with industry-leading benefits administration technology with advanced features and a best-in-class customer experience. This product helps makes insurance accessible to employees through easy-to-use enrollment workflows and in-app video tutorials that drive employee self-service and efficiency for employers managing benefits.
Paychex Voice Assist: Provides a new way for payroll admin users to complete payroll and HR-related functions and tasks. Users can now complete payroll from anywhere simply by saying "Hey Google, Talk to Paychex Flex" on any Google Assistant™--enabled device. Paychex Voice Assist is a natural extension of the company's expansive self-service capabilities.
Continuous market research allows us to leverage quantitative data to quickly address the business needs and challenges of our clients, Our most recent research revealed that 97% of Paychex clients said an online portal for employee self-service or HR-related tasks from any device or location was very or extremely important to strengthening employee relationships. The fall product release brings intuitive solutions to market that support businesses and enhance the employee experience,added Maureen Lally, vice president of marketing for Paychex.
Paychex, Inc. (Nasdaq: PAYX) is a leading provider of integrated human capital management solutions for human resources, payroll, benefits, and insurance services. By combining innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers business owners to focus on the growth and management of their business. Backed by 50 years of industry expertise, Paychex serves more than 730,000 payroll clients as of May 31, 2022 in the U.S. and Europe, and pays one out of every 12 American private sector employees.
HR ANALYTICS, TALENT ACQUISITION
SkyHive | September 08, 2022
SkyHive®, the first company to map and sequence the global labor market in real-time, provide workforce intelligence, and guide the rapid reskilling of workers and communities around the world, today announced the launch of SkyHive Answers™, a cloud-based application that empowers leaders and business users with immediate, accurate, and specific answers to their most pressing human capital strategy questions.
Leveraging SkyHive’s Labor Market Intelligence, SkyHive Answers removes the need for intensive manual data analysis, complex data processing, and time-consuming research. SkyHive’s artificial intelligence technology analyzes more than 150 trillion data points to give users precise insights that resolve their most crucial talent and workforce strategy questions.
“HR leaders and their teams have traditionally been underserved by laborious, costly, and flawed solution offerings, Answers resolves these business-critical pain points, captures real-time shifts in the global labor market, and provides comprehensive and accurate information. When combined, these benefits allow users across industries to make effective workforce decisions at the speed of business.”
-Luke Egenolf, Vice President of Products at SkyHive
Using a search engine interface, SkyHive Answers addresses queries regarding workforce transitions, retention, attrition, hiring, development, and the competitive landscape. Notable themes include:
Geographic hotspots for hiring and location optimization
Supply and demand ratios for strategic recruiting
Compensation distribution trends for talent and budget optimization
Recruiting and attrition trends for talent strategies
Organizational skill and DEI comparisons for competitive benchmarking
We are building The Human Capital Operating System, which will cognify the world’s labor market in a way no one has ever done before, SkyHive ingests data from over 180 countries, a billion profiles, two billion jobs, 65 million companies, and other labor market related sources. We feed all this information into our massive knowledge graph, algorithms, and ethical AI framework to deliver unprecedented labor market intelligence. With Answers, we can now put the power of this knowledge directly into the hands of more people and help future-proof enterprises and workforces,added Mohan Reddy, CTO and Co-founder.
SkyHive is a Certified B Corporation and software provider of global workforce intelligence technology, optimizing labor market efficiencies in real-time for companies, communities, and national economies. Leading enterprises use SkyHive’s cloud-based applications and platforms to power the future of work at its most granular level: skills. SkyHive’s Quantum Labor Analysis™ has been recognized by the World Economic Forum and Forbes for leading efforts in ethical AI and its positive impact on labor economies worldwide.
HR ANALYTICS,HR STRATEGY
UKG | November 14, 2022
UKG, a leading provider of HR, payroll, and workforce management solutions for all people, today announced the debut of FleX by UKG, a modern technology platform purpose-built to support great workplaces. FleX helps organizations evolve alongside the needs of their people, connecting the business with emerging applications to meet people where they want to work — whether within UKG or other systems of communication and engagement to foster exceptional and transformative employee experiences.
Built with a service-oriented mesh architecture to allow UKG customers to continually benefit from new innovations, FleX features three primary components:
FleX Fabric: people-centric and behavior-focused artificial intelligence (AI) fed by one of the largest HCM and workforce management datasets, creating exponentially more opportunities for people to benefit from real-time insights, recommendations, reminders and nudges, and better informed decisions
FleX Flow: a highly adaptable API framework that anchors UKG solutions in the flow of work where people need and want them most
FleX Dev: a robust collection of tools and services, including low-code and no-code designers, that enable IT teams and third-party service providers to configure UKG solutions and quickly build applications to automate processes that elevate life-work journeys
“UKG is the HCM engine for the enterprise. FleX will help ensure this engine is always available to everyone in the flow of their work, empowering people to complete important HR, payroll, and workforce management actions through the many enterprise systems actively partnering with us, The future-proof FleX architecture will also ensure organizations can continually adapt to the changing needs of their people nearly in real time. These are just two of the many ways we’re keeping people, not process, at the center of digital transformations.”
-Hugo Sarrazin, chief product and technology officer at UKG
UKG is already utilizing FleX to advance its Life-work Technology™ approach:
Career Designer, which empowers leaders to build holistic talent views in UKG Pro to connect life-work aspirations with talent development, utilizes Flex Fabric to provide prescriptive and individualized suggestions for relevant learning opportunities to drive growth and development
Enhancements to UKG payroll analytics also capitalize on Flex Fabric, using intelligent predictors to proactively identify payroll issues and errors, delivering actionable suggestions for resolution
UKG leveraged FleX Flow with Microsoft to develop a single, seamless interface for UKG Dimensions and Shifts, the schedule management application within Teams
Uber for Business and UKG are reimagining meaningful incentives with FleX Flow by providing managers with the option to share Uber vouchers through Dimensions
FleX Dev transforms how UKG customers and partners build their own tools to elevate life-work journeys
With more than half a billion dollars invested in our products annually, FleX illustrates how UKG is always looking to the future to ensure we’re able to help our customers anticipate the constantly evolving needs of their people and their business, Being able to serve customers today while preparing them for tomorrow is the cornerstone of our Partners for Life approach,said Chris Todd, CEO at UKG.
At UKG, our purpose is people. As strong believers in the power of culture and belonging as the secret to success, we champion great workplaces and build lifelong partnerships with our customers to show what’s possible when businesses invest in their people. Born from a historic merger that created one of the world’s leading HCM cloud companies, our Life-work Technology approach to HR, payroll, and workforce management solutions for all people helps more than 70,000 organizations around the globe and across every industry anticipate and adapt to their employees’ needs beyond just work.