SCHAUMBURG, Ill., October 18, 2023 – Paylocity (NASDAQ: PCTY), a leading provider of cloud-based HR and payroll software solutions, today introduces two new products, Recognition & Rewards and Employee Voice, to help business leaders and HR teams build culture and employee engagement while attracting and retaining talent more effectively. Building on the company’s track record of innovation, including integrating generative AI in multiple areas of its HCM platform and delivering Community, a social collaboration hub, the two new products announced today bolster strong workplace connections in an environment where employees feel both valued and heard.
To drive employee engagement, Paylocity has announced a comprehensive solution that bridges the recognition and rewards gap, further enhancing productivity and retention. Paylocity’s new Recognition & Rewards product builds on popular peer recognition capabilities that are already part of the Paylocity platform. Recognition & Rewards includes automation to recognize common moments that matter like birthdays or anniversaries, and customization to tailor rewards programs with cash redemption. Employees can also socially celebrate everyday moments of achievement with emojis and likes.
"We got a sneak peek at Paylocity's Recognition & Rewards, and it really impressed us. This new feature isn't just about rewards; it's about showing our employees they're valued. It helps bring our team together, beyond just tracking milestones,” said Courtney Guppy, Senior Vice President of Human Resources for Crafton Tull. “We're excited to incorporate it into our workplace culture, and we believe it will have a positive impact on our team and organization. Paylocity has done a great job with this one!"
Unlocking the Power of Employee Feedback
Today, five different generations coexist in the workforce, bringing diverse mindsets and expectations to the office. Paylocity recognizes the pivotal role of organizational culture in talent retention. According to the 2022 Ernst & Young U.S. Generation Survey, more than 90% of employees consider culture a significant factor in their decision to stay with a company. Balancing the diverse interests and opinions of a multi-generational workforce presents a challenge for leaders, where effective communication is key to creating a harmonious workplace.
To address the critical issue of talent retention, Paylocity has introduced Employee Voice, which goes beyond traditional surveys by offering a unique approach to employee engagement and retention. Building on the Paylocity platform’s existing AI capabilities, Employee Voice combines cutting-edge technology with rigorous scientific principles, underpinned by a proprietary, statistically validated engagement model developed by Paylocity's Data Science team. Any organization, regardless of size, can leverage AI to automatically delve into employee sentiment. The resulting data and insights are easily made available to executives and managers to identify key drivers of engagement without overburdening HR teams. Employee Voice offers a foundation of best-practice action items, built from the experiences of more than 36,000 Paylocity clients, to help leaders track progress as they address the needs of their organizations.
Empowering Workers in a Mobile-First World
With today's workforce being more distributed and increasingly reliant on mobile devices, the need for seamless and intuitive mobile access continues to be critical. Acknowledging this shift, Paylocity has rolled out its next-generation mobile app. Building on the success of previous versions, this update includes a modern, intuitive home screen that unifies the information most relevant to each employee—new messages, tasks to complete, timesheets, and even an online hub where they can get important updates from leaders and connect with their peers. Customizable navigation ensures access to individuals’ most-used features via a single tap.
"At Paylocity, we are focused on providing innovative solutions that not only envision but deliver the future of HCM today,” said Steve Beauchamp, co-CEO of Paylocity. “We understand the workplace is evolving, and with it, the needs of employees and organizations. These latest advancements reflect our mission to stay at the forefront of this transformation and push the boundaries of modern HR.”
Recognition & Rewards and Employee Voice will be available in early 2024 for an additional cost. Users can download the new mobile app today at Google Play and App Store. For more information about these products and features, please visit www.paylocity.com.
Headquartered in Schaumburg, IL, Paylocity (NASDAQ: PCTY) is an award-winning provider of cloud-based HR and payroll software solutions. Founded in 1997 and publicly traded since 2014, Paylocity offers an intuitive, easy-to-use product suite that helps businesses automate and streamline HR and payroll processes, attract, and retain talent, and build culture and connection with their employees. 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 all employees achieve their best. For more information, visit www.paylocity.com.