Paycor added workforce management tools that allow businesses to oversee independent contractors, seasonal workers and volunteers, along with their full-time employees. The idea is to simplify management by consolidating the entire workforce within in a single platform.
The launch is a step toward addressing the back-end requirements of non-traditional work arrangements. An increasing number of workers are, for one reason or another, pursuing work as independent contractors or through staffing agencies. According to McKinsey, 36% of employed Americans identify themselves as independent contractors, up from 27% in 2017. That’s an increase of 9%.
Ryan Bergstrom, Paycor’s chief product officer, said the new tools will make workforce management more efficient. Indeed, efficiency is a key part of Paycor’s pitch. The company “is focused on making the management of workers more efficient so leaders can focus on key elements that drive business performance and employee development,” Bergstrom said.
Paycor’s AI Footprint
Less than a month ago, Paycor partnered with Visier to launch a generative AI-based digital assistant to provide company leaders with “quick and detailed” insights into their workforces. The release added a conversational interface to Paycor’s existing analytics platform so leaders could ask HR and workforce management questions about their teams and receive immediate answers and insights.
Here again, efficiency was a key part of Paycor’s message. “We’re helping leaders save time and resources by providing them with the answers they need without any of the heavy lifting,” Bergstrom said at the time.
In June, the company released an AI tool that generates job descriptions. Paycor said the tool was meant to save employers time and money on hiring while still attracting the right talent. In addition, Paycor believes it will reduce the time needed to source and hire candidates.
In an interview on the HCM Technology Report’s PeopleTech podcast, Senior Vice President Gal Almog said AI has allowed Paycor to simplify recruiting by building more capabilities into its platform. “We wanted to eliminate the idea of a tool and say, ‘You are in the ATS. We have everything [you] need to know. We need some feedback from you,’” he said. Ten minutes, and the next thing you see is you see candidates interesting in speaking with you within your ATS. That cannot be done without AI.”