Paychex will introduce five new solutions next week at HR Tech. They include a wearable solution for tracking time worked, real-time payments, pay-on-demand, the next generation of its Paychex Flex intelligence engine and an integration partner network.
Tom Hammond, Paychex’s vice president of corporate strategy and product management, indicated the common themes behind the offerings are flexibility and personalization. “The future of HR will be about personalizing the work experience for individuals,” he said.Ahead of launching new products, @Paychex says 'The future of HR will be about personalizing the work experience for individuals.' #HR #HRTech Click To Tweet
“Employers need to be investing in technologies today that will meet the evolving needs of employees, he continued. That means they must provide solutions that take a more tailored approach to pay, where work gets done and what tools employees use. He said Paychex’s new productions will position its customers “for future growth and enable them to better compete in a historically tight labor market.”
Paychex Flex Enhancements
By adding real-time payments and pay on demand to its lineup, Paychex is joining a steady stream of vendors offering solutions that help employers meet growing demand for more flexible compensation arrangements. In early 2020, the company said, customers will be able to deposit earned wages into employees’ bank accounts in real-time. Pay on demand will be available before the end of this year.
Paychex Flex will be enhanced with the incorporation of Paychex Flex Assistant, the company’s customer service chatbot. Users will be able to find information and answer questions through the chatbot interface. In-app learning tools will align with each user’s preference as a verbal, visual or physical learner, offering written how-to documents, video tutorials or a guided interactive tour using step-by-step messaging.
In terms of integrations, next year Paychex plans to continue simplifying the process of connecting Paychex Flex with popular HR, accounting, point-of-sale. and productivity applications.
Finally, Paychex launched a solution that allows Flex Time users to track time worked via their smartwatch. The company said the smartwatch app is the first of many approaches it will take to making Paychex Flex available in different use cases.
The smartwatch solution’s functionality includes clocking in and out by tapping the device or, with the users’ permission, through location services.
Sign up for our newsletter here.