Press release
Paychex Retention Insights Named Top New Product by Accounting Today
The company's predictive analytics technology was recognized for its innovation and impact on retaining top talent ROCHESTER, N.Y., Feb. 22, 2023 /PRNewswire/
About this update from Paychex, Inc.
[{"type":"text","content":"The company's predictive analytics technology was recognized for its innovation and impact on retaining top talent\nROCHESTER, N.Y., Feb. 22, 2023 /PRNewswire/ -- Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, has been recognized as a 2023 Top New Product honoree for Paychex Retention Insights within the Human Capital Management Tools category of the annual list. This is the second consecutive year the company has been included on the list for its product innovation and business impact on the accounting industry for both clients and individual firms.\n\n \n \n \n \n \n \n\n \n\"At Paychex, we are constantly looking for ways to augment the technology behind Paychex Flex with the extensive business data we have to deliver tools that can simplify the challenges of our customers and address market trends we are tracking,\" said Frank Fiorille, vice president, risk, compliance, and data analytics at Paychex. \"Paychex Retention Insights is a perfect example of a report that leverages cutting-edge AI and machine learning technology delivered through an intuitive and actionable analytics report that can help our customers strategically retain top talent before they put their notice in. It is an honor to be recognized by Accounting Today for an innovation that is positively impacting the tax and accounting professionals we partner with.\"\nPaychex Retention Insights is a proprietary predictive analytics model built by Paychex data scientists based on millions of records of anonymized employment data. The predictive model is available to Paychex Flex® customers as a live and interactive report that identifies risk factors that can help predict if an employee has the potential to resign.\nAs one of the 2022 World's Most Ethical Companies®, Paychex applied the same level of ethical standards to the company's advanced analytics efforts. For Retention Insights, rigorous quality control techniques were used by a Paychex team of ethics, legal, and compliance professionals for fair results based on appropriate information.\nAs a predictive analytics tool, Paychex Retention Insights provides actionable and ethical information to assist clients in mitigating employee turnover risks. Paychex research has shown that clients using the Retenti...