Paylocity Unveils AI Assist™ – Leading the Industry in Integrating Generative AI into HCM Software

Rhea-AI Summary

Paylocity (NASDAQ: PCTY) has launched AI Assist, a significant advancement in HR technology that integrates generative AI with its core HCM platform. This tool aims to enhance internal communications by allowing HR professionals to create effective announcements quickly using simple prompts. The initiative is part of Paylocity's broader strategy to improve employee engagement and organizational culture amidst evolving workplace dynamics. AI Assist adds to existing features like enhanced chat and collaboration tools, reflecting robust growth in the adoption of Paylocity's Community platform, which fosters better employee connections.

Positive

• Launch of AI Assist enhances communication efficiency for HR and employees.
• Integration with OpenAI signifies cutting-edge technology in HR solutions.
• Strong growth in the adoption of Paylocity's Community platform reflects demand.
• New features like voice messaging and file sharing improve collaboration.

Negative

• None.

Leveraging OpenAI—the developer of ChatGPT—AI Assist Uses Artificial Intelligence to Enable Faster and More Effective Communications Across the Enterprise

SCHAUMBURG, Ill., March 21, 2023 (GLOBE NEWSWIRE) -- Paylocity (NASDAQ: PCTY) today announced AI Assist™, a landmark achievement in HR technology with the integration of generative Artificial Intelligence (AI) into its core HCM platform. Built using an integration with OpenAI—the developer of ChatGPT—AI Assist gives HR professionals, leaders, and employees the power to create highly effective communications in less time. AI Assist can quickly draft ready-to-send communications and announcements directly in the Paylocity platform based on a simple prompt from users. AI Assist follows several other innovations Paylocity has built into the industry's most modern HCM platform to help organizations increase insight, bolster productivity, and drive better business outcomes.

AI Assist is the latest enhancement to Community, Paylocity’s social collaboration hub, which is an integrated part of the Paylocity platform that improves communication and fosters employee connection. Communication is at the core of building culture and becoming an employer of choice, yet many organizations struggle to keep their workforce engaged with traditional email and antiquated intranets. Deskless and on-the-go employees, hybrid work, language barriers, and countless other factors all create challenges to successful employee engagement.

Paylocity has seen record growth in adoption of Community, demonstrating increasing demand among employers for solutions that strengthen collaboration and build company culture. Paylocity continues to add modern, employee-focused features that go beyond capabilities found in legacy HCM systems. Recently released features include enhanced chat, which provides the ability to record and send voice messages, and new collaboration features such as drag-and-drop file sharing in groups.

“Every company I talk with is searching for more intelligent and personalized ways to improve employee engagement so they can stay ahead of an increasingly competitive and uncertain labor market," said Steve Beauchamp, co-CEO of Paylocity. "AI Assist builds on the powerful employee experience features we’ve embedded across our platform to not only connect with employees in new, more effective ways, but also give HR and employees the latest tools to make it easier and more fun."

AI Assist Makes it Faster and Easier to Communicate and Engage with Employees
AI Assist helps break through some of the biggest barriers to effective communication faced by HR, business leaders, and employees so they can:

• Increase efficiency: When posting news or announcements for their organization, users can quickly draft ready-to-send communication by entering a prompt into AI Assist and then sharing with group members in just a few clicks.
• Jumpstart creativity: If users are unsure how to share their ideas or are looking for a clever way to put their thoughts into words, AI Assist can create professional, succinct communication.
• Help communication land: By calibrating the tone of announcements, tailoring messages to specific audiences, or even translating into other languages to reach multilingual employees, AI Assist can help increase transparency across the organization and build stronger culture.
  

AI Assist is the Latest Addition to Paylocity’s Modern Platform to Power HR and Leader Productivity
Paylocity is a leader in incorporating AI and other emerging technologies into its platform to not only improve productivity for HR professionals, but also help leaders build culture and more effectively retain talent. Paylocity applies proprietary AI and machine learning algorithms to distill insights across the millions of users and billions of interactions on the Paylocity platform into actionable dashboards and recommendations, including:

• Modern Workforce Index: Provides HR professionals and business leaders an overall score of a company’s health, performance benchmarks to peers, and tailored recommendations to improve efficiency and employee engagement.
• Retention Risk Dashboards: Analyzes factors that contribute to employee retention such as location, department, manager, length of tenure, salary growth, and more to identify those most at risk of leaving and enable managers and executives to manage turnover proactively.

• Time & Labor Forecasts: Predicts the total number of hours needed for a given schedule cost center up to a month in advance using historical data, simplifying scheduling and minimizing overtime costs.
• Tone and Sentiment Analysis in Performance Reviews: Measures overall sentiment (positive, neutral, or negative) and tonality (joyful, surprised, angry, or sad) for real-time coaching on how to write and deliver feedback – helping managers more effectively develop employees.

AI Assist is currently in closed pilot. Paylocity clients can reach out to their account team for more information or to request early access.

About Paylocity
Headquartered in Schaumburg, IL, Paylocity (NASDAQ: PCTY) is an award-winning provider of cloud-based HR and payroll software solutions. Founded in 1997 and publicly traded since 2014, Paylocity offers an intuitive, easy-to-use product suite that helps businesses automate and streamline HR and payroll processes, attract, and retain talent, and build culture and connection with their employees. Known for its unique culture and consistently recognized as one of the best places to work, Paylocity accompanies its clients on the journey to create great workplaces and help all employees achieve their best. For more information, visit www.paylocity.com.

CONTACT:  
Robin Rees
PR@paylocity.com
206-293-2910

FAQ

What is AI Assist launched by Paylocity?

AI Assist is a new feature that integrates generative AI into Paylocity's HCM platform, enhancing internal communications.

How does AI Assist improve employee engagement for Paylocity clients?

It enables HR professionals to draft communications quickly, increasing efficiency and effectiveness in engaging employees.

What technology underpins Paylocity's AI Assist?

AI Assist is built using an integration with OpenAI, the developer of ChatGPT.

When was AI Assist announced by Paylocity?

AI Assist was announced on March 21, 2023.

What are some features of Paylocity's Community platform?

The Community platform includes enhanced chat, voice messaging, and file sharing capabilities.