HR Practice
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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Workforce Management
Alight Solutions | January 09, 2024
Alight, Inc. a leading cloud-based human capital and technology services provider, and CirrusMD, a physician-first provider of on-demand virtual care, today announced a strategic agreement to offer a chat-enabled, physician-led, virtual care solution. The partnership is aimed at breaking down barriers to virtual care by providing employees with access to expert physicians across a wide range of health care needs on the Alight Worklife platform.
“The Alight Worklife platform serves as employees’ comprehensive connection point to their health, wealth, payroll and leaves benefits, which helps employers cut complexities, costs and engage individuals in the moments that matter most,” said Bipin Mistry, chief medical officer at Alight. “The partnership with CirrusMD helps take employee engagement one step further by making physician-led virtual care easily accessible to employees and bridges the gap between virtual clinical care delivery and employer-sponsored benefits navigation.”
Helping employees arrive at the most appropriate care
Employees on the Alight Worklife platform can engage directly with CirrusMD or be prompted to engage after completing Alight’s AI-powered Symptom Checker online experience to better understand their healthcare needs and guide them to care options, including virtual care provided by CirrusMD. With Single Sign-On (SSO) for fast connections to care within 60 seconds, Alight Worklife enhances the participant experience.
CirrusMD’s Physician-first Care & Guidance approach to virtual primary care provides members with always-on, instant access to a doctor via chat-first modality. CirrusMD’s multidisciplinary clinical team conducts encounters on a proprietary clinical intelligence engine that provides real-time insights to physicians based on data from millions of patient-physician interactions. Once employees connect with physicians, CirrusMD offers a seamless, efficient and patient-centric virtual care experience by
Connecting patients to physicians in less than a minute, 24 hours per day, 365 days per year,
Delivering advanced primary care that includes behavioral health, women’s health, acute care, chronic condition management and more,
Physician-led seven-day experiences, interactions that allow time for in-depth diagnosis and treatment, reducing the high costs associated with multiple follow-ups,
Text-based chat with options for video, voice and images when needed,
Immediate referrals to employer benefits and in-network resources,
And real-time Spanish language translation to help overcome potential language barriers. Optimizing the integration of healthcare benefits and clinical workflows
The strategic partnership enables employers to select CirrusMD as part of their Alight Healthcare Navigation offering within the Alight Worklife platform. As well, CirrusMD providers benefit from access to Alight’s Symptom Checker results and can reference benefit programs available to the participant which can serve to facilitate patient follow-ups with both CirrusMD care teams and Alight Health Pros for a comprehensive healthcare journey support.
This combined solution provides ongoing navigation to appropriate referrals and resources. For example, Alight's support for individuals with Behavioral Health conditions aligns seamlessly with CirrusMD, offering quick access to virtual Behavioral Health support when needed. Employees can be directed to other types of care options such as virtual physical therapy, through referrals made directly from CirrusMD or Alight.
“At CirrusMD we are reimagining the point of care to provide the time and information needed to support a productive dialog between patient and physician, giving both the time and information they need for exceptional care experiences,” said Jamie Hall, president and CEO of CirrusMD. “This strategic agreement represents an important milestone in advancing virtual primary care, combining the strengths of Alight Solutions and CirrusMD to transform the healthcare experience for individuals and employers alike.”
CirrusMD boasts an 83% issue resolution rate and an 93% overall patient satisfaction rate, and serves notable customers including health plans, large employers and the U.S. Department of Veterans Affairs.
About Alight Solutions
Alight is a leading cloud-based human capital technology and services provider that powers confident health, wealth and wellbeing decisions for 36 million people and dependents. Our Alight Worklife® platform combines data and analytics with a simple, seamless user experience. Supported by our global delivery capabilities, Alight Worklife is transforming the employee experience for people around the world. With personalized, data-driven health, wealth, pay and wellbeing insights, Alight brings people the security of better outcomes and peace of mind throughout life’s big moments and most important decisions.
About CirrusMD
CirrusMD delivers Physician-first Care & Guidance, a smart care model founded in the tenets of Advanced Primary Care. It brings together activated members with trusted physicians, relevant resources, and smart technology to change healthcare as we know it. CirrusMD improves speed to care, removes barriers to physicians, brings patient data into the care encounter, and promotes transparency at the point of referral. We believe that when you provide immediate, affordable care at scale you can drive the change needed to improve health and lower cost across an entire population.
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Payroll
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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Workforce Management
Ceridian | January 11, 2024
Ceridian a global leader in human capital management (HCM) technology, announced its upcoming retail product innovations, which highlight the company’s growing momentum in the sector. As the only solution that offers workforce management (WFM) and global payroll capabilities on a single platform, Dayforce – Ceridian’s industry-leading cloud software – helps retailers and the hospitality industry empower and retain frontline workers, increase operational agility when making staffing decisions, and enhance the employee experience.
Ceridian helps more than 1,280 retailers around the world optimize their workforce and improve employee engagement, attraction, and retention, including American Dream, Buehler’s Fresh Foods, Costa Coffee, Sobeys, and SPARC Group LLC, which owns and operates leading retail brands including but not limited to Aeropostale, Brooks Brothers, Forever 21, and Reebok.
“Today’s employees expect a personalized experience. Ceridian is an innovative, collaborative partner that is helping us shape the employee experience of the future,” said Julia Knox, Chief Technology & Analytics Officer, Sobeys.
"Forward-thinking retail and hospitality organizations need to embrace modern technologies, like machine learning and real-time workforce intelligence, to tackle the staffing and compliance challenges their industries face,” said Jack Bennett, Vice President and Retail Solutions Advisory Lead, Ceridian. “Coupled with Dayforce Wallet, our award-winning, on-demand pay solution, Dayforce is a single holistic platform for workforce management, pay, and talent that unlocks quantifiable value and gives retail and hospitality leaders an edge to better compete - and win - with today's boundless workforce."
Dayforce workforce management empowers frontline employees through schedule flexibility and a consumer-like experience, while driving agile retail operations by giving real-time workforce intelligence to managers. Continued enhancements include
Forecasting Powered by Machine Learning: In an ever-changing economic landscape, retailers can reduce costs and improve productivity by leveraging the power of machine learning (ML) in its labor planning. Dayforce ML forecasting helps managers make better decisions and optimize workforce allocation by forecasting future labor requirements down to 15-minute increments and become more precise over time.
Shift Marketplace: Modern workforce management provides organizations and employees with a simple, intuitive way of allowing stores and locations to share their workforce across their organization. With Shift Marketplace, employees can take on unfilled shifts at any location they choose, giving employees the flexibility to meet their financial goals while allowing managers to fill their labor demand needs without incurring additional costs to bring in outside resources.
Next-Generation Labor Planning: With Dayforce, customers can bring finance and operations together during the budget and planning processes to ensure forecasting and scheduling align with corporate targets. This process is further enhanced through scalable data models, a unified experience for long- and short-term planning, and yearly, quarterly, monthly, weekly, and daily workforce insights that can drill down to zone and position levels.
Reimagined Time Experience: The Dayforce platform is improving the employee time experience with a human-centric user experience that prioritizes simpler workflows, simplified clocking in and out, and accessibility. For managers, the enhanced user experience highlights what is important, including unplanned labor costs, and time-sensitive insights such as no-shows, missed breaks, approaching overtime, and upcoming departures. “We are a special place to work because our engaged team members are a key differentiator for our business. With the Dayforce platform, we will be able to deliver a modern, mobile-first employee experience that enables direct communication, seamless shift bidding, and access to on-demand pay with Dayforce Wallet, which will help to differentiate Sobeys in a challenging labor market,” said Sandra Pasquini, SVP HR Operations & Systems, Sobeys.
These features and enhancements will begin rolling out to customers on the Dayforce platform in 2024.
About Ceridian
Ceridian. Makes Work Life Better™.
Ceridian HCM Holding Inc. is a global human capital management software company. Dayforce, its flagship cloud HCM platform, provides human resources, payroll, benefits, workforce management, and talent management functionality. The Dayforce platform is used to optimize management of the entire employee lifecycle, including attracting, engaging, paying, deploying, and developing people. Ceridian has solutions for organizations of all sizes.
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