Paycor Introduces Innovative Solution for Managing All Types of Workers

Rhea-AI Summary

Paycor (PYCR) unveils new HR functionality to streamline workforce management, catering to non-traditional workers. The company aims to empower leaders to efficiently manage their complete workforce, including independent contractors, seasonal workers, and volunteers, through a single platform. With a surging demand for non-traditional work arrangements, this addition aims to streamline processes for leaders to effectively manage their entire staff.

Paycor unveils modern HCM functionality for streamlining workforce management across diverse staffing solutions

CINCINNATI, Nov. 16, 2023 /PRNewswire/ -- Paycor HCM, Inc. ("Paycor") (Nasdaq: PYCR), a leading provider of human capital management (HCM) software, today announced new HR functionality enabling leaders to better manage their complete workforce, including independent contractors, seasonal workers, volunteers and more. With this cutting-edge addition, Paycor empowers its customers to efficiently manage individuals, regardless of who initiates their paycheck. By consolidating the complete workforce within a single platform, leaders can seamlessly handle billing, generate workforce rosters, and enhance team engagement.

In today's dynamic market, there's a surging demand for non-traditional work arrangements. This growing category of workers has become increasingly common in many key industries, and includes nurses, contractors, temporary employees, seasonal workers, and volunteers. In fact, according to McKinsey's American Opportunity Survey, 36% of respondents, or 58 million Americans, are independent contractors, an increase of 9% from seven years ago. Non-traditional employees are typically managed through agencies that directly pay workers and subsequently bill the employer. With this new functionality, Paycor is streamlining processes for leaders to effectively manage their entire staff.

"Paycor is focused on making the management of workers more efficient so leaders can focus on key elements that drive business performance and employee development," said Ryan Bergstrom, Chief Product Officer at Paycor. "Paycor customers will be able to easily manage their complete workforce from hire to retirement, receiving greater insights and allowing for more accurate reporting and billing. As a flexible HCM provider, we are committed to accommodating all types of workers that our customers leverage in an ever-evolving workforce."

Whether overseeing operations or maintaining compliance-related records via a comprehensive Forms and Document library, Paycor has enhanced its HCM suite to provide comprehensive support for all worker types, enabling customers to gain a holistic view of all workers within their organization.

To learn more about all the features available in HCM Cor, visit Paycor.com/HRSolutions.

About Paycor
Paycor's human capital management (HCM) platform modernizes every aspect of people management, from recruiting, onboarding, and payroll to career development and retention, but what really sets us apart is our focus on leaders. For more than 30 years, we've been listening to and partnering with leaders, so we know what they need: a unified HR platform, easy integration with third party apps, powerful analytics, talent development tools, and configurable technology that supports specific industry needs. That's why more than 30,000 customers trust Paycor to help them solve problems and achieve their goals. Learn more at paycor.com.

Paycor Media Relations:
Carly Pennekamp
513-954-7282
PR@paycor.com  

Paycor Investor Relations:
Rachel White
513-954-7388
IR@paycor.com

View original content:https://www.prnewswire.com/news-releases/paycor-introduces-innovative-solution-for-managing-all-types-of-workers-301990020.html

SOURCE Paycor

FAQ

What new functionality did Paycor announce?

Paycor announced new HR functionality that enables leaders to better manage their complete workforce, including independent contractors, seasonal workers, volunteers, and more.

What is the goal of the new HR functionality?

The goal is to empower leaders to efficiently manage their complete workforce, regardless of who initiates their paycheck, through a single platform.

What is the significance of non-traditional workers in today's market?

Non-traditional workers, including independent contractors, temporary employees, and seasonal workers, have become increasingly common, with a 9% increase in independent contractors in the past seven years.

How does the new functionality benefit Paycor customers?

The new functionality allows Paycor customers to easily manage their complete workforce from hire to retirement, receiving greater insights and allowing for more accurate reporting and billing.

What support does Paycor's enhanced HCM suite provide for all worker types?

The enhanced HCM suite provides comprehensive support for all worker types, enabling customers to gain a holistic view of all workers within their organization.