Paylocity unveils new products, features for HCM industry

Paylocity announced new premium products and feature enhancements designed to drive greater productivity, enhance the employee experience, and improve business outcomes in its Human Capital Management solution. Market Pay is a new premium product that provides comprehensive market pay data to help organizations pay their employees fairly, attract and retain top talent, and maintain compliance with laws and regulations-all in real time and directly within the Paylocity platform. Using Market Pay, Paylocity clients can make better compensation decisions, evaluate specific roles accurately, and comply with pay equity and job posting requirements in multiple states. Advanced Scheduling premium functionality improves workforce management by enabling organizations to further automate scheduling, reduce labor costs, and minimize compliance risks. Businesses can build schedules for multiple locations by matching the most suitable employees based on job function or role, skill set, and certifications. The new functionality also includes real-time insights to help ensure the right coverage and minimize overtime expenses by anticipating hours needed for future shifts and enabling employers to identify employees who are approaching or have already reached overtime thresholds. Learning Management System is a training platform that enables Paylocity clients to easily assign courses that cover new skills, policies, products, compliance, and other topics, with robust tracking capabilities. The latest enhancements to Paylocity’s LMS enable employees to create training content – including videos – and then easily share it via Community. Generative AI debuted in the HCM industry for the first time on the Paylocity platform in April 2023, appearing as an embedded feature in Community, Paylocity’s online collaboration hub. By responding to a user prompt that outlines simple details like what they want to communicate, the target audience, and desired tone, the AI tool generates polished and professional messages, saving valuable time and effort.