SCHAUMBURG, Ill., April 16, 2024 – Paylocity (NASDAQ: PCTY), a leading provider of cloud-based HR and payroll software solutions, today announces new innovative features aimed at transforming talent acquisition, employee engagement, and retention for the next generation of workers. As Gen Z surpasses Boomers in the workforce this year, swelling to more than 17.1M employees, companies are recognizing the need for customized solutions that address this generation's distinct needs and preferences.
"In the feedback collected from our most recent HR Systems Survey Report, only Paylocity users were most likely to describe their HCM technology experience as ‘consumer-grade,’” said Stacey Harris, Chief Research Officer and Managing Partner of Sapient Insights Group. "As workforce dynamics shift with the influx of Gen Z talent, a consumer-grade technology experience — one that is engaging and efficient — is essential for organizations looking to increase the use and adoption of HR applications and optimize their investments.”
New Feature Enhancements Transform Talent Acquisition
As younger generations become a significant presence in the workforce, companies are reevaluating their recruitment strategies to cater to a tech-savvy and purpose-driven generation. Leveraging advanced AI-driven automation, integrated workflows, and customizable processes, Paylocity introduces innovative features tailored to resonate with the next-generation workforce.
Jobseekers can now easily apply for jobs by simply scanning QR codes or texting (SMS) with the new text-scan feature, making the application process fast and intuitive even while on the go. For recruiters, this new feature provides key metrics on engagement, visits, applications, rates, and hire data. Another new feature gives applicants the ability to have real-time conversations with potential employers through two-way texting, providing quick and direct communication for instant interactions with recruiters.
Paylocity also empowers candidates to share their preferred name, ask optional identity questions, or mask information that may promote bias in the hiring process, promoting inclusivity while reducing bias for candidates. Paylocity’s seamless integration with LinkedIn, ZipRecruiter, and Indeed, allows candidates to directly apply for multiple jobs without leaving the job boards. New integrations with Gmail and Outlook calendars provide candidates hassle-free interview scheduling. Recruiters can easily send calendar invites with meeting links and documents such as resumes and interview guides. Two-way synchronization makes it simple to update or cancel an event.
Engaging and Retaining Next-Gen Talent
After hiring new employees, the challenge shifts to long-term engagement and retention. A recent study by Gallup reveals a concerning trend: all generations, except Baby Boomers, are experiencing overall decreased engagement in post-pandemic years. Particularly younger millennials and Gen Z employees have seen their engagement rates fall by nearly 20%, giving them the most dramatic decline. These generations value meaningful work, ongoing learning, transparent communication, and a strong sense of belonging. Their digital proficiency and preference for interactive learning shape their engagement and retention expectations.
Paylocity's solutions engage employees from day one, such as using personalized video introductions from the CEO for an immediate connection to the company's vision. Smart Groups in Paylocity's online hub, Community, integrate new and existing employees into teams, fostering collaboration and cohesion. Nearly 95% of all Paylocity clients have activated Community for their employees.
Paylocity's Learning Management System (LMS) complements this customized engagement experience by delivering training to employees, with features such as peer-to-peer knowledge sharing, video-based training, and self-generated content. The LMS platform has seen a 35% increase in employees completing training year over year, showcasing clients' commitment to continuous employee development and upskilling. Retaining talent is crucial, especially with next-generation employees ready to explore new opportunities amid limited growth potential at their current employers. By using Paylocity Employee Voice for engagement surveys, companies gain insights into retention patterns and best practices.
These features can be accessed through Paylocity’s #1-rated HR mobile app, enabling employees to enjoy consumer-grade experiences right at their fingertips. Through the mobile app, employees can effortlessly clock in and out, stay current on internal updates with Community posts, and submit PTO requests and paycheck details at any time, from anywhere. This approach caters to a variety of worker types, including those who are remote or desk-less, reinforcing Paylocity’s commitment to enhancing engagement and productivity across diverse work environments.
"The Paylocity mobile app has brought about a profound shift in how our mobile-first workforce interacts with HR. Its intuitiveness is remarkable, making it not just an app but a true enabler of efficiency,” said Ryan Zimmerman, VP of HR at POLYWOOD. “With its user-friendly interface and powerful features, it has redefined convenience in our workplace. It's not just a mobile app; it's a catalyst for a new era of workplace empowerment, where every employee has the tools they need to succeed."
“Paylocity clients have seen a 72% growth in the number of Gen Z workers in the last 36 months, making us acutely aware of the shifting dynamics in today's workforce,” said Steve Beauchamp, co-CEO of Paylocity. “This evolution highlights the growing importance of prioritizing engagement, growth, and retention strategies. Our solutions are designed to meet these changing needs head-on. By fostering continuous development, transparent communication, and a culture of collaboration, our innovative HR platform empowers organizations to adapt, thrive, and retain top talent."
About Paylocity
Paylocity 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.
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