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Paychex earns industry accolades for new technology focused on employee benefits
Paychex earns industry accolades for new technology focused on employee benefits
Paychex Inc. has earned recognition as a Top HR Product of the Year for Paychex Flex Perks, a curated digital marketplace for employee benefits.
This is the fourth time a Paychex solution has been named to the Top HR Product of the Year list as part of this annual awards program, which is designed to showcase new HR technology innovations with an emphasis on how they are breaking new ground and impacting the market.
“It is an honor for Paychex Flex Perks to be recognized as a 2024 Top HR Product of the Year for the direct impact we expect this solution will have on business leaders, HR professionals, and ultimately their employees,” said Tom Hammond, Paychex vice president of strategy, partnerships and business development. “Now more than ever, a comprehensive and unique benefits offering is critical to any business competing for talent in a tight labor market.”
Integrated directly into Paychex Flex, the company’s cloud-based SaaS solution, Paychex Flex Perks is tailored to the employee’s user experience, making it easy to enroll in benefits, including early access to earned wages, financial wellness solutions and voluntary lifestyle benefits.
Employees can self-select additional benefits based on their personal needs, which frees up time for business owners and HR leaders to focus on more strategic initiatives that are required to run a business, the company noted. Paychex Flex Perks services are paid through employee payroll deduction at no cost to the employer.
“Small and medium-sized businesses often face challenges when competing against larger organizations for the best talent in a competitive labor market,” said Steve Boese, president and co-founder of H3 HR Advisors and HR Technology Conference chair. “Paychex Flex Perks gives smaller organizations access to a set of attractive and meaningful employee benefits like access to earned wages, pet insurance, financial wellness tools and more, that augment the employer’s benefits offering and enhance the overall employee value proposition.
This year’s award program received more than 100 written submissions, from which a judging panel selected a subset of technology solutions to demo before awarding 13 products with the honor of Top HR Product of the Year.
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