Business
Paylocity Unveils New Products and Features to Further Extend its Innovation and Leadership in the HCM Industry
Paylocity Strengthens HCM Platform with New Products and Features, Advancing the Transformation of the HR Industry SCHAUMBURG, Ill., July 26, 2023 (GLOBE
About this update from Paylocity Holding Corporation
[{"type":"text","content":"Paylocity Strengthens HCM Platform with New Products and Features, Advancing the Transformation of the HR Industry\nSCHAUMBURG, Ill., July 26, 2023 (GLOBE NEWSWIRE) -- Paylocity (NASDAQ: PCTY), a leading provider of cloud-based HR and payroll software solutions, today announced new premium products and feature enhancements designed to drive greater productivity, enhance the employee experience, and improve business outcomes in its Human Capital Management (HCM) solution. Building on its history of innovation—including the industry’s first integration of generative AI—Paylocity recently launched several new products and feature enhancements, including advanced scheduling capabilities and greater insight and access into compensation trends — advancing its position as the most modern HCM platform on the market today. Paylocity Redefines Modern HR with New Innovative Products and Feature Enhancements The new additions to the Paylocity platform include Market Pay, advanced Scheduling, enhancements to its award-winning Learning Management System, an updated mobile app to further empower and engage employees, and new applications of generative AI: Market Pay is a new premium product that provides comprehensive market pay data to help organizations pay their employees fairly, attract and retain top talent, and maintain compliance with laws and regulations—all in real time and directly within the Paylocity platform. Using Market Pay, Paylocity clients can make better compensation decisions, evaluate specific roles accurately, and comply with pay equity and job posting requirements in multiple states. Market pay data has increasingly become a must have for organizations of all sizes, but especially larger ones where internal calibration is more difficult. According to a recent industry report, at least 75% of companies with 40-250 employees and 80% of firms with 500+ employees use market pay data to justify compensation decisions.\"Having market pay data in the platform we use every day helps us make more informed decisions about what we're paying our employees and supports data-driven decisions around compensation. This saves us time when we're working to keep pay competitive for various jobs—and of course, retaining our best talent,\" said Courtney Guppy, Senior Vice President of Human Resources at Crafton Tull, an architectural enginee...