Paycom Launches GONE, Automating Time-Off Request Decisions

Rhea-AI Summary

Paycom Software, Inc. (NYSE:PAYC) announced the launch of its new feature, GONE™, designed to automate time-off decisions for businesses. GONE uses a customizable decision engine to facilitate time-off approval and denial, helping businesses standardize time-off management and eliminate manual processes. The feature aims to ensure fairness, timeliness, and regulatory compliance, reducing staffing shortages, payroll inaccuracies, and workplace culture impact. According to a study, manual time-off reviews or approvals can cost a company an average of $11.22 in labor, but GONE vastly reduces this expense and time-consuming organizational tasks for managers and directors.

Positive

• GONE automates time-off decisions, reducing manual processes and ensuring fairness and regulatory compliance.
• The feature aims to eliminate staffing shortages, payroll inaccuracies, and workplace culture impact.
• According to a study, GONE can significantly reduce the cost of manual time-off reviews and approvals for companies.

Negative

• None.

OKLAHOMA CITY--(BUSINESS WIRE)-- Paycom Software, Inc. (NYSE:PAYC) (“Paycom”), a leading provider of comprehensive, cloud-based human capital management software, announced the launch of its next step in automation, GONE™, a feature that facilitates decision-making for time-off requests. Businesses can now automate time-off decisions to best fit their needs using a customizable decision engine for time-off approval and denial, including staffing needs, consecutive days requested, individual employee hours worked, level of seniority and more.

Paycom announced the launch of its next step in automation, GONE, a feature that facilitates decision-making for time-off requests. (Photo: Business Wire)

Through enhanced automation, GONE standardizes time-off management with policy-compliant decisioning designed to ensure fairness, timeliness and regulatory compliance. For businesses and their employees, GONE helps eliminate:

• waiting on or tracking down time-off decisions
• updating incorrect time-off information for payroll
• losing employees’ trust due to time-off guidelines being unclear or unfair
• being understaffed because of poor time-off management and
• unapproving time-off approval or mediating time-off denial disputes.

“GONE is the next step in workplace efficiency, eliminating the hassle that outdated processes and time-tracking technology create,” said Chad Richison, founder, chairman and CEO of Paycom. “Today, businesses typically make between 20 and 30 decisions per year, per employee on time-off requests and the denials or approvals that go into staffing decisions. GONE replaces those interaction points, providing a consistent experience for employees, and ensures business continuity.”

For businesses and managers, inconsistent time-off management can cause staffing shortages and payroll inaccuracies, as well as impact workplace culture. To reduce risk and liability surrounding staffing and policy enforcement, GONE looks at the needs of businesses and standardizes decisions. What’s more, businesses can avoid the costly consequences of coverage gaps that are detrimental to both the bottom line and employee morale.

Each manual time-off review or approval can cost a company an average of $11.22 in labor, according to a November 2023 Ernst & Young study commissioned by Paycom. GONE vastly reduces this expense along with time-consuming organizational tasks that frequently fall on managers and directors.

To learn more about this new feature available through Paycom’s Time-Off Requests tool, visit www.paycom.com/gone.

About Paycom

For 25 years, Paycom Software, Inc. (NYSE:PAYC) has simplified businesses and the lives of their employees through easy-to-use HR and payroll technology to empower transparency through direct access to their data. And thanks to its industry-first solution, Beti®, employees now do their own payroll and are guided to find and fix costly errors before payroll submission. From onboarding and benefits enrollment to talent management and more, Paycom’s software streamlines processes, drives efficiencies and gives employees power over their own HR information, all in a single app. Recognized nationally for its technology and workplace culture, Paycom can now serve businesses of all sizes in the U.S. and internationally.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205065626/en/

Jason Bodin

1-800-580-4505

media@paycom.com

Source: Paycom Software, Inc.

FAQ

What is the new feature launched by Paycom?

Paycom Software, Inc. (NYSE:PAYC) announced the launch of its new feature, GONE™, designed to automate time-off decisions for businesses.

How does GONE help businesses with time-off management?

GONE uses a customizable decision engine to facilitate time-off approval and denial, helping businesses standardize time-off management and eliminate manual processes.

What are the benefits of using GONE for businesses?

GONE aims to ensure fairness, timeliness, and regulatory compliance, reducing staffing shortages, payroll inaccuracies, and workplace culture impact.

What is the cost-saving potential of using GONE for businesses?

According to a study, GONE can significantly reduce the cost of manual time-off reviews or approvals, saving companies an average of $11.22 in labor.