Paychex added new features to its platform including a compensation summary report, secure document management, a free financial wellness program and facial and iris recognition.
Included in Paychex’s latest release, the additions are meant to build on the company’s strategy to aid businesses as they navigate and recover from the impact of Covid-19, said Tom Hammond, vice president of corporate strategy and product management..@Paychex added features meant to build on its strategy to aid businesses as they navigate impact of Covid-19. #HR #HRTech Click To Tweet
The Compensation Summary Report allows employees to view their compensation beyond direct pay, Paychex said. Its secure document management feature, meanwhile, is ideal for vaccine status tracking, document storage and reporting.
Paychex is also introducing FinFit, a free financial wellness benefit that’s been fully integrated with a user’s Paychex login and a tool for customers looking to recruit, retain and keep their employees productive with a financial wellness program.
Finally, the Paychex Iris Time Clock leverages face and iris recognition to capture accurate time and attendance data. Designed to mirror the experience of a smartphone or tablet, the biometric time clock identifies employees and provides secure access to pay adjustments, time-off balances and schedules. New features promote employee self-service and minimize the time employers spend manually fielding HR requests, the company said.
What Workplaces Need
According to Paychex, the modern workplace requires open communication, transparency and the ability to promote a safe and productive environment where employees feel supported, whether they’re remote, hybrid or on-site.
Last year, Paychex announced new functionality in Paychex Flex that was designed to help businesses speed up hiring and onboarding new employees, and better understand, measure and manage labor costs.
“As we look ahead to the new normal, cash flow and talent management will continue to present unique challenges for employers, especially as millions of employees have renewed expectations for how, when and where they work,” Hammond said at the time.