In a move designed to improve how employers communicate with their teams, Paycor released Paycor Engage, a one-stop shop to share company news, facilitate communications and recognize employees across the mobile and web environments.
Paycor Engage will also enable social collaboration for cross-functional groups across the organization.
From Paycor’s view, engagement is the most important contributor to overall business efficiency, and tools to help leaders inspire loyalty and active participation from workers are critical. Highly engaged teams experience a 40% reduction in turnover on average, according to research from 15Five.
As culture and employee engagement are undeniably influenced by frontline managers, engagement can elevate transparency, celebration and foster inclusivity, Paycor believes. Companies with engaged employees demonstrate success by almost any measure, be it revenue, productivity or customer satisfaction.
“With employee retention continuing to remain a top concern among businesses, it is essential for leaders to ensure their employees feel engaged and valued,” said Paycor Chief Product Officer Ryan Bergstrom. Paycor is meant to streamline the flow of information in an “easy to consume, mobile first design,” he added.
Streamlining Relationships
Paycor seems to be creating a number of features to streamline aspects of the employer-employee relationship. In June, the company released an AI-generated job descriptions tool designed to “optimize” talent acquisition. When used with Paycor Smart Sourcing, the module helps optimize talent acquisition by sourcing high-quality and diverse candidates, the company said.
And, of course, the company is incorporating generative AI into its products. June’s module helps leaders and recruiters “generate job descriptions that attract and hire talent,” Bergstrom said at the time.
Powered by Microsoft Azure’s OpenAI Service, the tool also helps retention by clearly outlining the role and responsibilities in jthe ob descriptions it generates. In addition, Paycor said it will reduce the time needed to source and hire candidates.
A month before that, Paycor acquired Verb, a people development platform that incorporates behavioral science and proprietary microlearning content. At the time, Paycor said it hoped to help organizations train their workers and develop better teams. Paycor said it will fully integrate Verb into its HCM platform and Paycor Paths.
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