Latest Paychex Solutions Help Businesses Meet the Needs of the Modern Workforce

Technology provider HCM announces enhanced solutions for talent retention, secure document management and employee time tracking

ROCHESTER, NY, March 28, 2022 /PRNewswire/ — Paychex, Inc., a leading provider of integrated human capital management (HCM) software solutions for human resources, payroll, benefits and insurance services, announced new enhancements designed to help employers better protect worker health and safety and help companies meet worker retention challenges with industry-leading HR technology solutions.

“The modern workplace is here because of the accelerated adoption of digital technology, a distributed workforce, and the changing needs of candidates and workers,” said Tom Hammond, Vice President of Corporate Strategy and Product Management at Paychex. “Our customers need a vendor that grows with their business and evolves with the market by providing best-in-class HR solutions. The products included in our latest release continue to build on our strategy of supporting businesses as they navigate and recover from the impacts of the COVID-19 pandemic.”

“We conduct ongoing market research to ensure we have insight into the needs and behaviors of businesses, our customers and their employees,” added Maureen Laly, Vice President of Marketing at Paychex. “A recently commissioned report revealed insights into how workers in the modern workplace place a high value on employers who support their wellbeing and that this is an important consideration when looking for their next job. The solutions included in this release of the product address workplace wellness as well as business recovery through employee retention.”

The modern workplace demands open communication, transparency, and the ability to promote a safe and productive work environment where employees feel supported, whether remote, hybrid, or onsite. According to a recent NAPEO survey, 66% of business owners and decision makers identified labor shortages as the most challenging aspect of running a business. Additionally, fostering a safe workplace for employees, managing return-to-work policies that could include testing or managing vaccines, and managing a distributed workforce ranked among top business challenges . The following product solutions and enhancements represent the latest release of the Paychex product and the company’s efforts to simplify business challenges.

  • Remuneration summary report: The Compensation Summary Report gives employees access to a view of their compensation beyond their direct compensation, an essential business strategy for retaining top performers in today’s competitive job market. The report can include health insurance contributions, pension contributions, bonuses and various benefits captured in Paychex Flex and can serve as a reminder to employees of specific elements of their overall compensation.
  • Secure document management: Customers can store documents securely and with confidence on the Paychex Flex platform. With the ability to manage multiple downloads and in-app signing capabilities, the Document Center can store confidential documents with rule-based user restrictions. Customers can generate real-time reports on who uploaded documentation, providing a centralized tracking solution, saving time and improving accuracy. This new solution is ideal for vaccine status tracking, document storage and reporting.
  • Financial well-being: There are a number of stressors on an employee’s finances: household budgeting, debt management, taxes, proper investing and saving for the future. To help customers support their employees, Paychex offers financial wellness services through a FinFit® the integration. FinFit is a free financial wellness benefit that is now fully integrated into a user’s Paychex login and a tool for customers looking to recruit, retain and maintain employee productivity through a wellness program financial.
  • Paychex Iris Clock: Leveraging accurate face and iris recognition, the Paychex Iris clock is a safe and efficient way to capture accurate time and attendance data for today’s dynamic workforce. Designed to mirror the intuitive experience of a smartphone or tablet, this biometric time clock quickly identifies employees, with or without essential PPE, and provides secure access to salary adjustments, leave balances, schedules, and more. . New features promote employee self-service and minimize the time employers spend manually processing HR requests as data is centralized and fully integrated with Paychex Flex®the company’s HR software in SaaS mode.

Check out the latest Paychex product release to learn more about how these solutions are helping businesses meet the demands of the modern workforce.

About Paychex
Paychex, Inc. (Nasdaq: PAYX) is a leading provider of integrated human capital management software solutions for human resources, payroll, benefits and insurance services. By combining its innovative software-as-a-service technology and mobility platform with personalized, dedicated service, Paychex allows small and medium business owners to focus on growing and running their business. With 50 years of industry expertise, Paychex has served over 710,000 payroll customers worldwide. May 31, 2021 in the United States and Europeand pays one in 12 US private sector employees. Learn more about Paychex by visiting paychex.com and stay connected on Twitter and LinkedIn.

Media Contacts
Chelsea Wernick
Paychex, Inc.
(585) 216-2974
[email protected]

SOURCEPaychex, Inc.

Michael A. Bynum