Paychex is adding new benchmarking reports and an enhanced HR analytics applications to Paychex Flex, its HR software platform. The payroll company said then new capabilities will be rolled out over the next few months.The features are being added through an alliance with Visier, which markets people analytics and workforce software.
Paychex said the new technology will enhance the analytics already available in its enterprise-level reporting. Combined data sources will provide validated analytics for accurate benchmarking and text insights to medium and small businesses.
Available analytics include guided analyses and intuitive insights on workforce distribution and cost, attrition, turnover, retention, pay, and equity and compensation benchmarks to compare workforce compensation against 750 million market data points. Customers will be able to view and information directly through a self-service model or a shared analytics workspace with Paychex HR professionals.
