ARLINGTON HEIGHTS, Ill., Nov. 02, 2017 (GLOBE NEWSWIRE) -- Paylocity Holding Corporation (Nasdaq:PCTY), a provider of payroll and human capital management (HCM) software solutions, announced at its ninth annual Client Conference the two latest additions to its product suite: Compensation Management and Surveys. These solutions deliver simple, flexible, and intuitive solutions to meet the growing demands of the modern workforce.
Compensation management can improve how organizations fairly and competitively reward employees. Whether through annual increases or one-time payments, leaders can make informed decisions to ensure increases align with organizational guidelines and performance metrics.
"Compensation is one of the most important decisions human resource professionals have to handle, yet most do not have a strategic approach leveraging data, such as performance," said Steve Beauchamp, Chief Executive Officer at Paylocity. "Paylocity's Compensation Management product brings automation to the process of merit increases and bonuses by setting guidelines for managers to get involved, creating an informed and strategic compensation process. This product will change the way our clients approach compensation by putting the right information at their fingertips for informed decision-making."
With Compensation Management, users can create flexible compensation plans that align with a company's compensation cycles. Specific features of this solution include:
- Simple configuration of plans that include budgets, plan participants, eligibility rules, guidelines, and multi-approval process with automated approvals
- An executive view for leadership across their reporting to ensure the annual compensation process is allocated in a way that retains top talent
- Managers can easily administer their budget and distribute increases with automatic calculations on a simple dashboard with note capabilities
- Payroll updates are made automatically upon completion of the compensation plan
Communication in the workplace helps drive organizational success and employee satisfaction. Surveys enables clients to gather real-time employee feedback that is repeatable and simple to use. Clients can get started with one of Paylocity's engagement surveys, or easily create a custom survey, such as a new hire or exit survey.
"Engaging with your workforce and understanding employee sentiment is necessary for creating a best-in-class culture," said Ted Gaty, Sr. Vice President of Product & Technology. "Ongoing feedback from surveys allows our clients to take action and drive authentic change in their organizations."
With Surveys, understanding employee sentiment is simplified and the results will give HR professionals the insights required to drive cultural initiatives while attracting and retaining top talent.
Learn more about Paylocity's payroll and HCM solutions.
Paylocity is a provider of cloud-based payroll and human capital management, or HCM, software solutions. Paylocity's comprehensive and easy-to-use solutions enable its clients to manage their workforces more effectively. Paylocity's solutions help drive strategic human capital decision-making and improve employee engagement by enhancing the human resource, payroll and finance capabilities of its clients. For more information, visit www.paylocity.com.
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