ROCHESTER, N.Y., Sept. 14, 2021 /PRNewswire/ -- Paychex, Inc., the human capital management (HCM) software and services company that provides the power of simplicity for increasingly complex workplaces, has once again earned recognition as a "Top HR Product of the Year" in the Core HR category by Human Resource Executive magazine and the HR Technology Conference & Exposition. Paychex earned the recognition for its new Paychex Pre-Check solution, which gives employees the opportunity to confirm paycheck accuracy before payday and introduces more automation into the payroll cycle for employers. The award, which Paychex also earned in 2020, spotlights the innovations driving the HR technology market.
Simplifying and automating the payroll process for businesses and their employees, Paychex Pre-Check initiates an employee self-review of their paystub so that employees can alert their employer of payroll discrepancies before payday and employees can be confident in their paycheck amount. The solution is particularly powerful for employees whose paycheck amounts vary from pay period to pay period. Allowing employees visibility into their paycheck amount ahead of time ensures they can review their pay so there are no surprises on pay day.
With 49 percent of workers saying they would leave their current employer after two payroll errors and nearly 25 percent of employers spending at least 15 hours a month validating timecards, Paychex Pre-Check provides workers and administrators a solution to mitigate such risks.
"Paychex Pre-Check is an innovative solution that welcomes employees to validate their gross pay and confirm net pay – all before processing. Taking automation to the next level, it reduces administrative burdens in the payroll cycle and can eliminate costly payroll errors for employers," said Tom Hammond, Paychex VP of corporate strategy and product management. "We're honored that the judging panel chose to once again recognize Paychex for bringing innovative, relevant solutions to market.Paychex Pre-Check is simply the latest example of our ongoing commitment to helping organizations succeed in an increasingly digital, employee-centric environment."
Initiated through Paychex Flex®, the company's SaaS-based HR software solution, employees are notified on their channel of their choice – including smart watches and smart speakers – that their gross-to-net paystub is ready to be securely reviewed. Employees perform the review in Paychex Flex and are prompted to confirm the amount's accuracy or report an issue to the employer's administrator, who can address the potential error before payday.
"Increased visibility and transparency into an employee's pay, and correcting potential errors prior to payday, can strengthen the employer-employee relationship, and provide employees more certainty and control over their finances," said Steve Boese, president and founder of H3 HR Advisors and chair of the HR Tech Conference. "Paychex Pre-Check is a great step forward in payroll technology and has clear benefits for employees and HR and payroll departments, making it a worthy Top HR Product of 2021 award winner."
This year's award program drew 110 written submissions, from which a judging panel selected a subset to demo before ultimately awarding 13 products with the honor of Top HR Product for 2021.
About Paychex Paychex, Inc. (Nasdaq: PAYX) is a leading provider of integrated human capital management solutions for human resources, payroll, benefits, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by 50 years of industry expertise, Paychex served more than 710,000 payroll clients as of May 31, 2021 across more than 100 locations in the U.S. and Europe, and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting paychex.com and stay connected on Twitter and LinkedIn.