Paycor rolled out at a new analytics package designed to make workforce analytics more accessible to HR managers. Powered by Visier, Paycor Analytics helps HR recognize patterns and identify problem areas so they can develop strategies to address issues in both the near and long terms.
The company said Paycor Analytics turns workforce data into simple and digestible visualizations.” In addition, the tool helps HR leaders provide better-informed answers to leadership questions on workforce costs and related trends, flight risk, retention strategies and how to reach diversity goals.Paycor's new analytics package helps SMBs identify problems so they can develop strategies to address issues in both the near and long terms. Visier provides the engine. @PaycorInc @Visier #HR #HRTech Click To Tweet
With the product, Paycor is responding to HR leaders’ increasing need for data that will help them influence business decisions about areas such as recruitment, labor costs and turnover. Plus, the company’s research found 66 percent of CFOs say their HR departments have an “average or worse than average” impact on the organization’s bottom line. Although HR often sits on “a goldmine of data,” the department often lacks the support, resources and budget it needs to make use of it, Paycor said.
Visier’s Power to SMBs
Among Paycor Analytics’ key features:
- The ability to transform complex workforce data into direct answers.
- Visibility into the calculation and methodology used to process data, in plain language.
- Benchmarking capabilities that provide insights into how a business compares to its competition and projects future results. Data sets can be filtered and sorted across a parameters such as industry and size.
Ryan Bergstrom, Paycor’s chief product officer, said partnering with Visier has allowed the company to provide “enterprise-class infrastructure” to customers.
“By partnering with Visier, we’re bringing enterprise-class infrastructure to Paycor Analytics and providing a robust solution that enables data insights tailored to HR, benchmarking, predictive analytics and more, and exceeding any other solution on the market.”
Paycor serves more than 30,000 small and medium-sized businesses across the U.S. As for Visier, which tends to focus on enterprise organizations, it’s been adding new features at a regular clip this year. The most recent include tools to provide customers with insights into their hourly, contract and seasonal workers and “what if” capabilities to help managers prepare for future recruiting and retention needs.
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