Paylocity Extends its AI Leadership in the HCM Industry
17 Janeiro 2024 - 11:00AM
Paylocity (NASDAQ: PCTY), a leading provider of cloud-based HR and
payroll software solutions, today announced its latest series of
new AI features designed to streamline HR processes and deliver
more personalized, modern employee experiences. Building upon its
track record of innovation, the company is introducing AI-driven
optimized workforce schedules and personalized learning plans, as
well as multiple instances of intelligent recommendations. The new
AI features announced today—and already in use by early
adopters—reflect Paylocity's long-standing commitment to
outcome-focused design principles at the core of modern workforce
transformation.
An AI Strategy Built with Business Outcomes in
MindPaylocity’s AI strategy goes beyond mere Generative AI
to include a multipronged approach that focuses on enhancing
business efficiency, delivering actionable insights, and improving
the user experience.
"The driving force behind our AI approach at Paylocity is, and
always has been, the business value it delivers to our clients,
with the ultimate goal of enhancing the success and well-being of
businesses and employees alike,” said Steve Beauchamp, Co-CEO of
Paylocity. “Our AI strategy ensures that our advancements
contribute meaningfully to the industry, empowering professionals
to navigate the future of work with confidence and purpose."
AI-Driven Schedule Optimization to Meet the Needs of
Employees and Businesses AlikeLaunched last year,
Paylocity Advanced Scheduling already incorporated AI to reduce
unplanned overtime costs, ensure appropriate role-based shift
coverage, and minimize no-show rates. Today, Paylocity announces
AI-powered shift scheduling, which intelligently recommends and
optimizes employee schedules to streamline the scheduling process
and take both organizational needs and employee preferences into
account.
Early adopter clients using AI-driven shift scheduling have seen
an 80% adoption rate for shift-scheduling recommendations, enabling
managers to make informed scheduling decisions faster and with more
confidence, based on factors such as employee availability and
preferences.
AI-Led Learning Recommendations to Aid Employee
Development and Career PathsAs organizations aim to
differentiate their culture through continuous training, Paylocity
has continued to improve its acclaimed Learning Management System
(LMS) by introducing AI-driven recommendations, which not only
enhance the learning experience, but also ensure that training
aligns with individual career goals.
Early adopters report a 63% success rate, with AI-driven
recommendations resulting in actual course enrollments and enabling
employees to tailor their professional development journey to their
career goals.
AI-Powered Recommendations Build on Generative AI to
Increase Employee Engagement Paylocity was the first HCM
vendor to embed Generative AI into its platform and has since
rolled out multiple Generative AI capabilities. Today, Paylocity
announces new personalized recommendation features across multiple
products, including Recognition & Rewards, Employee Voice, and
Community, Paylocity’s online collaboration hub.
Recognition & Rewards is a newer product that automates
recognition of important moments, such as birthdays and
anniversaries, and allows customization for rewards programs.
Today, Paylocity announces a new “Recognitions to Give” feature,
which uses AI to suggest relevant opportunities for users to
acknowledge and celebrate their peers' accomplishments. Early
adopters are already seeing impactful results, including a
significant 20% increase in peer-to-peer recognitions originating
from AI recommendations.
Employee Voice is another newer product that leverages AI to go
beyond traditional surveys by helping organizations continuously
collect and analyze feedback, transparently share insights, and
then strategically act to improve employee engagement and
retention. Employee Voice delves into employee sentiment to
translate survey data into statistically validated engagement
scores and tailored recommendations to improve employee engagement
at either the individual team or companywide level. The score and
action plans are easily accessible on an interactive dashboard
alongside deeper category analysis.
Community now includes “People to Follow” and “Groups to Create”
recommendations. Early adopter clients leveraging the “People
to Follow” feature have reported a 50% increase in follows, while
those using the “Groups to Create” feature note that 25% of
successful groups in Community now originate from AI
recommendations.
"One of Paylocity’s strengths is its AI-powered, mobile-first
platform, which helps its clients optimize business performance,"
said DeeAnna Warrington, Principal Industry Analyst - HR Technology
and Services at NelsonHall, an independent research and advisory
firm. "In today's fast-evolving workplace, where workforce dynamics
are more complex than ever, AI is not just a tool but a strategic
imperative. The industry is at an inflection point, with AI having
the potential to drive the next wave of HCM transformation.
Paylocity understands this and is beginning to deliver on the
promise of AI.”
Paylocity is hosting an upcoming webinar on February 21,
dedicated to helping HR leaders navigate the AI landscape. Register
here.
About PaylocityHeadquartered 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.
CONTACT: Nicole Andergardnandergard@paylocity.com
503-866-0783
A photo accompanying this announcement is available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/2be6edff-c625-45ac-9a36-fba06a1b9dbf
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