With business goals and workplace requirements evolving every few days, tools and products that were useful earlier may rapidly lose their relevance. The COVID-19 pandemic has disrupted the corporate world, and the impact of these changes is far-reaching. With no end in sight, organizations are now preparing for the long haul by adapting to newer tools.
To keep pace with this complex scenario, Paychex has started addingOpens a new window new features to revamp its products. Through its own survey, Paychex found that almost one-third of businesses were planning to allow remote work in the post-pandemic world and that 23% of these organizations were planning to increase their use of technology so that they can improve employee productivity. The addition of new features to align its products to the market situation has been an ongoing exercise for Paychex.
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The focus of the recent products under Paychex Flex® is to provide solutions that can assist organizations in remaining connected, being compliant, and promoting productivity. Technology has been the backbone of business operations in a more significant way in the past few months. It is going to continue to play a dominant role in the future. Many organizations are now investing in HR technology, and companies that provide these technology tools are reshaping and enhancing their products to address the various aspects of workforce management that technology can support.
The recent release of new Paychex products has been a result of this growing need.
What’s New From Paychex?
Here is a look at the products that have been released recently to simplify workforce managementOpens a new window for companies.
1. A tool to respond to employee queries
HR teams have faced the highest load of queries due to the pandemic. To ease their burden as well as make the process simpler for the employees, Paychex launched HR Connect. This allows each question to be managed as a case so that HR can verify the concern and respond to it quickly. This product is likely to enable quicker response and lower effort on tactical issues by HR teams. With increasing worries about engagementOpens a new window and productivity, this could be a solution worth exploring by firms.
2. An upgrade to strengthen employee-leader relationships
Another product Conversations, which was initially launched in 2019, has undergone significant upgrades. The product mainly focuses on engaging employees and leaders in discussions that can strengthen their bond and improve their productivityOpens a new window . While communication is essential, conversations that are based on inclusive inputs from employees in the form of notes are far more meaningful.
3. An offering to remain compliant
Compliance-related issues specifically for OSHA are a critical area concerning employees. By creating the OSHA Dashboard, Paychex allows for self-service and provides documentation for events pertaining to OSHA. Real-time data on reported injuries or illnesses from different locations are a vital feature of this product.
5. Tools to save time
Worker Templates are again designed for simplification and time saving. With this, those who manage the Paychex Flex platform can add new workers easily with the help of standard prepopulated fields. New employees can be added seamlessly without high amounts of effort.
6. Technology that offers insight into workforce trends
Lastly, the insights about the workforce are crucial for all aspects of decision-making. The New Live Reports allow organizations to assess data for cost optimization by being able to access and analyze job costs and compensationOpens a new window for the workers. Leaders can see this information to understand changes that take place within the workforce and plan the next steps.
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Introducing a range of products in a short period involves high levels of commitment, investment, and a deep understanding of the current market context. Several firms are now actively working on providing such solutions that can impact the people processes as well as technology infrastructure in significant ways for the future. Most are focused on delivering the entire suite of offerings, which cover hiring, talent managementOpens a new window , performance management, learning, and reskillingOpens a new window .