Paylocity Introduces Benefits Decision Support—A Modern Solution for Personalized Employee Benefits Choices
New Product Just one of Several Innovations Introduced in the Last 12 Months
SCHAUMBURG, Ill., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Paylocity (NASDAQ: PCTY), a leader in cloud-based HR and payroll software solutions, introduces Benefits Decision Support, a new product to simplify benefits enrollment for HR teams by offering employees personalized benefits recommendations based on their individual health needs, financial considerations, and family dynamics. This new offering is part of Paylocity's comprehensive HCM platform for the modern workforce and is the latest of several product innovations announced in the last year.
Benefits Decision Support addresses the complexities of benefits selection and administration, a critical pain point for many organizations. By simplifying the decision-making process for employees, Paylocity improves their overall well-being and satisfaction, while reducing the administrative burden on HR departments.
Benefits Decision Support offers personalized recommendations for medical, HSA, FSA, hospital, accident, and critical illness plans, empowering employees to make informed decisions that align with their unique circumstances.
"Benefits Decision Support helps remove roadblocks and confusion so employees can take full advantage of their benefits package,” said Toby Williams, president and CEO of Paylocity. “By enhancing employee confidence and increasing enrollments, we ensure more accurate data for plan optimization. At Paylocity, we’re not just simplifying benefits enrollment; we’re providing a modern solution that empowers employees to make informed decisions and improves the overall benefits experience.”
Benefits Decision Support is just the latest product introduction and follows multiple new products and AI enhancements the company launched in the last 12 months. In fiscal 24, Paylocity launched Recognition & Rewards, Employee Voice, Advanced Scheduling, Market Pay, and a reimagined mobile app experience. These new offerings have seen early success, leading to more than 30,000 market job searches within Market Pay and the Paylocity mobile app ranking as one of the highest rated in the software industry, with the majority of employee interactions on the platform occurring via mobile.
Paylocity also continues to lead the industry in its use of AI to simplify and enhance the user experience for HR admins and employees alike. Following the pioneering launch of Generative AI in fiscal 2023, the company introduced several AI-driven enhancements across its platform in fiscal 2024, particularly in Learning Management and Community, its online collaboration hub. These enhancements have been well-received, as evidenced by hundreds of thousands of AI-assisted interactions on the Paylocity platform.
Currently available to select Paylocity clients, Benefits Decision Support will be available to all clients starting in late August 2024. For more information, visit https://www.paylocity.com/our-products/benefits/.
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:
Nicole Andergard
nandergard@paylocity.com
503-866-0783
