New Paychex Products Help Businesses Improve Recruiting, Hiring, Onboarding, and Retaining their Employees

Rhea-AI Summary

Paychex announced new enhancements to its human capital management solutions aimed at improving employee experiences from hiring to retention. Key features include Paychex Flex Hiring for streamlined recruitment, Paychex Flex Onboarding for paperless processes, and Paychex Voice Assist for payroll tasks via voice commands. According to the 2022 Paychex Pulse of HR Report, 50% of HR leaders feel their organizations struggle with hiring and retention. These product updates reflect Paychex's commitment to using data to enhance workforce management.

Positive

• Enhanced products like Paychex Flex Hiring and Onboarding streamline recruitment and onboarding processes.
• Clients reported an average time savings of 26% in recruiting cycles.
• 97% of Paychex clients value online self-service portals for employee tasks.

Negative

• 50% of HR respondents indicate their organizations are ineffective at hiring, onboarding, and retention.

Enhanced features automate and optimize processes within the employee lifecycle that help improve employee retention and satisfaction

ROCHESTER, N.Y., Nov. 2, 2022 /PRNewswire/ -- Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, has announced new enhancements designed to help improve the employee experience from pre-employment through retention. The latest products and solutions help provide a seamless experience for both employers and employees using Paychex Flex^®, the company's SaaS-based HR application, as well as the customized service and HR advisory support available from Paychex.

"Now more than ever, a positive first impression with a prospective employer is essential. HR technology plays a critical role in how employers meet candidates, extend offers, digitally onboard, and retain employees through the first 90-days, when the chance for turnover is at its highest," said Tom Hammond, vice president of corporate strategy and product management. "The products included in our most recent release were developed to strengthen the employer-employee relationship and support businesses as they prioritize their workforces to create better experiences for increased employee retention and satisfaction."

The 2022 Paychex Pulse of HR Report, an annual study commissioned by Paychex that provides an in-depth look at how HR leaders are adapting to support employees in a new era of work, found that 50% of respondents say that their organizations are not effective at hiring, onboarding, and retention.

The following solutions and product enhancements make up the current Paychex product release and the company's efforts to enhance the employee lifecycle and experience:

• Paychex Flex Hiring: Makes hiring easier by automating tasks and actions for clients to quickly recruit and hire new talent. This Paychex Flex feature assists clients with a variety of recruitment tactics, from posting a job to digitally sending offer letters to top candidates. Paychex research has shown that three out of four clients surveyed said they have shortened the time required for recruiting, screening, tracking, and onboarding of new employees through using Paychex Flex. An average time savings of 26% was reported by those clients that reported a shortened timeframe. For example, a client's two-month recruiting and hiring cycle could be reduced to six weeks.
• Paychex Flex Onboarding: Simplifies the onboarding experience by integrating essential steps directly within Paychex Flex. Advancements allow new hires to complete critical documentation, including direct deposit authorization, W4, state withholding forms, and Form I-9s from the device of choice for a paperless onboarding experience.
• Paychex Flex Time: Helps create a seamless and unified experience for Paychex Flex Time admin and employee users for controlling scheduling needs, managing time off requests, approving employee timecards, and reviewing data to ensure accuracy for pay periods.
• Flock Benefits Administration by Paychex: Provides clients with industry-leading benefits administration technology with advanced features and a best-in-class customer experience. This product helps makes insurance accessible to employees through easy-to-use enrollment workflows and in-app video tutorials that drive employee self-service and efficiency for employers managing benefits.
• Paychex Voice Assist: Provides a new way for payroll admin users to complete payroll and HR-related functions and tasks. Users can now complete payroll from anywhere simply by saying "Hey Google, Talk to Paychex Flex" on any Google Assistant™--enabled device. Paychex Voice Assist is a natural extension of the company's expansive self-service capabilities.

"Continuous market research allows us to leverage quantitative data to quickly address the business needs and challenges of our clients," added Maureen Lally, vice president of marketing for Paychex. "Our most recent research revealed that 97% of Paychex clients said an online portal for employee self-service or HR-related tasks from any device or location was very or extremely important to strengthening employee relationships. The fall product release brings intuitive solutions to market that support businesses and enhance the employee experience."

Learn more about the latest Paychex product and advisory solutions helping business owners and HR professionals drive productivity and optimize the employee experience by visiting paychex.com/product-releases.

About Paychex

Paychex, Inc. (Nasdaq: PAYX) is a leading provider of integrated human capital management solutions for human resources, payroll, benefits, and insurance services. By combining innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers business owners to focus on the growth and management of their business. Backed by 50 years of industry expertise, Paychex serves more than 730,000 payroll clients as of May 31, 2022 in the U.S. and Europe, and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting www.paychex.com and stay connected on Twitter and LinkedIn.

Media Contact
Chelsea Wernick
Public Relations Program Manager II
Paychex, Inc.
(585) 216-2974
cwernick@paychex.com
@Paychex

View original content to download multimedia:https://www.prnewswire.com/news-releases/new-paychex-products-help-businesses-improve-recruiting-hiring-onboarding-and-retaining-their-employees-301666299.html

SOURCE Paychex, Inc.

FAQ

What are the new features introduced by Paychex for employee management?

Paychex introduced enhanced features including Paychex Flex Hiring, Flex Onboarding, Flex Time, Flock Benefits Administration, and Paychex Voice Assist, aimed at improving the employee experience.

How do Paychex's new products help with employee retention?

The new products streamline recruitment and onboarding processes, which are critical in enhancing employee satisfaction and lowering turnover during the initial employment phase.

What findings were reported in the 2022 Paychex Pulse of HR Report?

The report found that 50% of HR leaders believe their organizations are not effective in hiring, onboarding, and retaining employees.

How much time do Paychex clients save using the new hiring features?

Clients reported an average time savings of 26% in their recruiting and onboarding processes.

What is the significance of employee self-service portals according to Paychex's research?

The research revealed that 97% of clients consider self-service portals for HR tasks essential for strengthening employee relationships.