Business
Paylocity Enhances Product Suite to Help Organizations Attract and Retain Top Gen Z Talent
SCHAUMBURG, Ill., Jan. 15, 2020 /PRNewswire/ -- Paylocity (NASDAQ: PCTY), a leading cloud-based provider of payroll and human capital management (HCM)
About this update from Paylocity Holding Corporation
[{"type":"text","content":"SCHAUMBURG, Ill., Jan. 15, 2020 /PRNewswire/ -- Paylocity (NASDAQ: PCTY), a leading cloud-based provider of payroll and human capital management (HCM) software solutions, today announces its commitment to helping employers attract and retain the growing segment of Generation Z employees in the workforce as 2020 kicks off. \n\n \n \n\n \nGen Z – defined by Pew Research as anyone born after 1997 – is often described as the largest and most ethnically diverse generation in American history. This generation grew up in the era of technology, the internet and social media, which means their workplace experiences and expectations are vastly different than their Millennial counterparts. By the end of this year, it's projected that Gen Z will make up 24% of the global workforce. Paylocity's current platform analytics indicate that Gen Z makes up 11% of its clients' workforces today, and with this number expected to climb in the coming months, Paylocity will continue to monitor these insights to ensure its clients cater to this generation's new set of behaviors, expectations and preferences in the workplace.\n\"Over the past few years, we've made substantial investments in optimizing our product suite to appeal to the modern worker,\" said Ted Gaty, Senior Vice President of Product and Technology at Paylocity. \"At Paylocity, we understand that Gen Z will demand greater personalization in how they move along their career journeys and interact with workplace technology. To this end, we're helping our clients design automated experiences for payroll, learning and development, performance management and employee engagement that appeal to this generation.\"\nPaylocity recently rolled out the following product features to support this growing segment of the workforce:\n- On Demand Payment – On Demand Payment offers employees financial flexibility by providing them access to their earned wages during the active pay cycle, which can reduce financial stress and help employers improve recruiting and retention. After growing up in the Great Recession, this generation is looking for financial stability and security in their jobs. In addition, with many Gen Zers shouldering the burden of student debt, this feature gives employees peace of mind for making payments on-time while also helping organizations stand out to job candidates for robust compensa...