beqom | December 14, 2023
beqom, a provider of compensation and performance management solutions, announced it will acquire PayAnalytics, a cutting edge pay and workplace equity software provider. The global movement toward workplace equality has made it imperative for organizations to address wage gap challenges head on, for both competitive and regulatory reasons. beqom's acquisition of PayAnalytics means that companies can now embed pay equity into their compensation processes and daily decision-making, to create a culture of fair pay, build on a data-driven compensation strategy, and meet global pay equity regulatory requirements. The acquisition positions beqom uniquely in the market as provider of the most complete advanced total compensation and pay equity solution.
The PayAnalytics solution, designed by a team of data scientists and HR leaders, empowers companies to analyze pay for gender and other forms of demographic fairness, and take appropriate action. Through multivariate regression analysis, it identifies factors influencing pay and proposes remedies for unexplained pay gaps. By delivering these advanced analytic capabilities in the context of a plug-and-play pay equity methodology, PayAnalytics will add the capability to embed instant and always-on pay equity into the real-time compensation processes managed by beqom, supporting data-driven pay decisions for new hires, merit increases, and promotions. beqom's compensation modeling optimizes the budget impact for pay equity remediation scenarios. Together, the solutions will provide companies with unprecedented abilities to attract and retain talent, drive performance, and optimize costs, while ensuring compliance and reducing risk.
"Pay equity is no longer a niche area, it's a business essential, and the focus must go well beyond compliance and risk. Our in-depth research shows that companies that excel in pay equity have higher profitability, greater customer satisfaction, innovate better, and win the war for talent," says Kathi Enderes, Senior Vice President Research and Global Industry Analyst at The Josh Bersin Company. "Done right, pay equity is not a once-a-year-project but a way to run the company for equity. The right technology is vital because it's a complex undertaking. Combining the advanced pay equity capabilities of PayAnalytics with beqom's total compensation platform means that companies can embed a consistent and continuous focus on fair pay in their entire talent lifecycle, helping make their rewards function systemic and accomplishing higher rewards maturity."
Customers can expect business as usual while having the possibility of benefiting from the expanded range of solution capabilities. Both companies are committed to maintaining the high level of service expected by their customers, while offering them broader and deeper functionality and expertise in compensation and pay equity management., Each will continue to drive product innovation in their respective domains, while tightening the integration between the two suites of products.
"What distinguished the PayAnalytics solution and team for us was their specialized expertise and sophisticated data approach enabled by a great product. Additionally, the company's headquarters in Iceland places them strategically with a global perspective, straddling both the EU and the US. This unique positioning gives PayAnalytics an inherently global DNA and mindset, a distinction that beqom, headquartered in Switzerland, can appreciate firsthand," says Fabio Ronga, beqom CEO and co-founder. "Consequently, PayAnalytics exhibits a deep understanding and proven experience in navigating the complexities of global enterprises dealing with diverse local regulations. These factors serve as key differentiators that set the solution apart from others in the market. We look forward to working with the whole team on keeping PayAnalytics at the forefront of pay equity software solutions, and to bring that expertise to beqom's customers."
"We founded PayAnalytics to eliminate the gender pay gap by applying data analytics and arming HR managers with quantitative decision-making tools," says Sigurjon Palsson, PayAnalytics CEO and co-founder. "We are excited now to join forces with beqom and take pay equity to the next level. By linking those analytics to compensation processes, customers now will be able to close the loop and create a culture of continuous fair pay."
beqom was founded in 2009 with the mission to help the world's largest enterprises keep their people motivated and productive through comprehensive, equitable, and transparent performance and rewards. PayAnalytics was founded in 2016 to eliminate the gender pay gap by applying quantitative decision-making tools.
beqom is a unified total compensation platform — managing compensation, employee performance, sales performance, pay equity, and recognition all in one place. beqom makes it easy for HR teams to handle every aspect of total compensation management at scale by empowering HR leaders to personalize compensation strategies with their organizations' needs. With beqom, employees understand their value, perform at their peak, and are rewarded fairly for their contributions.
PayAnalytics is a cloud-based software solution that enables HR managers and consultants to conduct their own salary review, measure gender and other demographic discrepancies in pay, and offers recommendations on how to close pay gaps. Their reporting and visualization tools allow HR managers to understand the impact of hiring, promotion, and salary adjustment decisions on pay gaps, and to understand trends in their pay structure.
UKG | January 04, 2024
UKG, a leading provider of HR, payroll, workforce management, and culture solutions for all people, announced that Heartland Motor Company, the family-owned parent company for a group of auto dealerships and car washes, is transforming its workplace culture to create a great place to work by building a foundation of trust and belonging with the help of the AI-powered UKG Pro suite.
With a mission to create remarkable experiences for its people and the communities it serves, Heartland Motor Company partnered with UKG to empower frontline staff through innovative technology that gives employees a voice to communicate and collaborate with each other and leadership.
“I’ve never experienced an HCM solution with as much engagement power as UKG,” said Tina Barte, vice president of HR for Heartland Motor Company. “UKG has generated amazing outcomes for our people with technology that allows us to meet them where they are by soliciting feedback — and then taking action on that feedback — to elevate our culture and build trust as well as a deepened sense of belonging.”
Since going live on Pro, Heartland has received positive feedback from employees through regular surveys powered by modern AI and natural language processing (NLP) technology that help the auto dealer understand what is working and where there are opportunities to create an even better experience, no matter where employees are located.
“We consistently receive glowing feedback on our onboarding process, driven by our UKG suite, and how the automation of previously manual tasks shows respect for our employees’ time,” said Barte. “We can also automatically schedule performance reviews in UKG and deliver meaningful manager feedback, which has been a big driver of employee engagement. Additionally, we’ve used the responses from exit surveys to raise our wage scales and change our vacation policy and benefits so we’re better supporting our people.”
To further engage employees, in line with its great place to work mission, Heartland recently upgraded to UKG AI-powered workforce management, which gives employees access to mobile-first technology that provides greater flexibility and work-life balance.
“Our employees love the ability to clock in and out of shifts with their phones, which is something we didn’t have with our prior solution,” said Barte. “For our HR team, UKG makes leave tracking easy for FMLA and other types of leave.”
Barte noted that Pro makes work easier for all by empowering employees in every role to focus on meaningful work for themselves and the business, which has led to an overall increase in retention and engagement.
“With UKG HR service delivery, we know we are processing every employee inquiry, and with document management, we have created a centralized electronic system that administrators and employees both find easy to use,” said Barte. “UKG has done a phenomenal job launching products that make life easier for everyone and allow us to communicate clearly with employees in support of our great workplace culture.”
“Great workplaces like Heartland Motor Company prove that innovative HR technology increases productivity, lowers turnover, and grows the bottom line,” said Hugo Sarrazin, chief product and technology officer at UKG. “Most importantly, the power of AI, coupled with a deep focus on creating a workplace where all people feel heard, valued, and a sense of belonging, leads to incredible people and business outcomes.”
At UKG, our purpose is people. We are on a mission to inspire every organization to become a great place to work through HCM technology built for all. More than 80,000 customers across all sizes, industries, and geographies trust UKG HR, payroll, workforce management, and culture cloud solutions to drive great workplace experiences and make better, more confident people and business decisions. With the world’s largest collection of people data, work data, and culture data combined with rich experience using artificial intelligence in the service of people, we connect culture insights with business outcomes to show what’s possible when organizations invest in their people.
Paycom | December 13, 2023
Paycom Software, Inc. a leading provider of comprehensive, cloud-based human capital management software, announced updated cost estimates of data entry and HR tasks within its usage management analytics tool, Direct Data Exchange® (DDX™). These figures are based on the latest findings by professional services firm Ernst & Young (EY), who found the average cost of a single manual data entry made by an HR professional increased from $4.70 to $4.78.
“Since launching DDX in 2019, we have strategically shown thousands of businesses the estimated ROI when employees own their own data,” said Chris Thomas, Paycom’s chief operating officer. “The cost of manual HR data entries continues to rise, further proving the need for employees to own their data.”
An award-winning HR product, DDX gives employers insights into efficiencies gained through employee usage of HR technology. It provides a real-time estimated return on investment for that usage based on EY’s research, which is reflected in Paycom’s industry-first product.
“While self-service HR solutions have been widely available for some time, there still exists tremendous opportunity for their increased adoption and usage across most organizations." said Steve Boese, HR Technology Conference program chair and co-host of the HR Happy Hour podcast. “Insights from DDX help HR leaders make the case for increased investment in HR solutions and enable them to demonstrate the positive returns on the investments in HR technology that are a direct result of eliminating slow, expensive, low-value-add and error-prone manual processes.”
EY regularly updates its calculations by applying inflation factors to survey data. This year’s study also includes consideration for manual payroll tasks completed by HR professionals. When payroll tasks are included, the average cost of a single manual data entry rises from $4.78 to $5.35.
These estimated costs are only averages. EY also concluded that the cost per data entry of each task varies and can be as much as $21.18. Additionally, according to EY’s annual research, the cost per HR task has continued to increase across every category of HR data — such as expense management, personal information and more — since the original survey launched in 2018. Paycom’s DDX automatically calculates these costs for clients so they can, in turn, drive employee usage of Paycom’s Employee Self-Service® technology.
With the launch of DDX, Paycom became the first in the human capital management industry to provide a tool that assists employers in determining what appropriate employee usage of HR technology looks like and how to measure it.
For 25 years, Paycom Software, Inc. has simplified businesses and the lives of their employees through easy-to-use HR and payroll technology to empower transparency through direct access to their data. And thanks to its industry-first solution, Beti®, employees now do their own payroll and are guided to find and fix costly errors before payroll submission. From onboarding and benefits enrollment to talent management and more, Paycom’s software streamlines processes, drives efficiencies and gives employees power over their own HR information, all in a single app. Recognized nationally for its technology and workplace culture, Paycom can now serve businesses of all sizes in the U.S. and internationally.
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."
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.