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Mike Gioja, SVP- IT, Product Management & DevelopmentPaychex [NASDAQ: PAYX] helps businesses navigate issues like these by managing and implementing all or some of their company’s HR functions. For organizations with one employee to more than 1000, Paychex offers a unique combination of innovative technology, service and expertise that meets each client’s current needs and anticipates future requirements. The company’s core technology platform, Paychex Flex, delivers one of the most comprehensive mobile and cloud-based technology suites available for integrated human capital management.
The Paychex Flex suite of services includes Payroll, HRIS, Benefits Administration, Employee Self-Service, Onboarding, Recruiting and Applicant Management, Time and Attendance, Employer Shared Responsibility Reporting and Monitor ing, and Insurance Services. Paychex clients and their employees access Paychex Flex through a single sign-on and a single mobility application for a consistent, unified and feature-rich experience across devices.
“As a technology-enabled service company, we firmly believe that technology is only as good as the service that comes with it. That’s why we moved to a single SaaS model to serve all our clients,” said Mike Gioja, Senior Vice President of IT, Product Management and Development, Paychex. “By taking a different approach to the way we built our technology—on an open, single platform that we own—we can effectively and efficiently integrate our own products as well as those from our strategic partners.”
Paychex Flex was also designed differently, allowing simultaneous changes to payroll, HR and employee information without limitations and giving administrators the ability to toggle between personal and admin tasks at any time. In addition, mobile applications provide capabilities for both administrators and employees.
By taking a different approach to the way we built our technology, we can effectively and efficiently integrate our own products as well as those from our strategic partners
“The Paychex platform was built to be as flexible as our clients need it to be, empowering users to do what they want, where they want, when they want, and how they want,” said Gioja. “All key features of Paychex Flex work independently so that clients can purchase only what they need.”
To better serve clients and provide greater innovation through its Flex offerings, Paychex completely transformed its software product development to a pure agile approach in 2014. Among the benefits to customers: a significant increase in the number of product features, improved time to market with more frequent, smaller releases that deliver key functionalities, and a more predictable roadmap for new releases.
The evolution of Paychex’s service model rounds out its position as a technology-enabled service company. Coinciding with Paychex’s adoption of the agile approach to product development, the past two years were spent developing an online service model that complements dedicated service specialists and a 24/7 call center.
Andrew Childs, VP - MarketingPaychex Identifies Top 5 Regulatory Issues for Employers to Watch in 2024
Saturday, December 16, 2023
AI, privacy, and wage and hour regulations are critical topics for employers heading into the new year
Rochester, N.Y.– Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, today released the top five regulatory and compliance-related topics employers should be monitoring heading into 2024. The annual Paychex list is intended to keep business leaders up to date on the regulatory changes that are most likely to impact them in the coming year and why.
“We consistently hear from our customers that tracking and complying with changing regulations is one of their top pain points,” said Frank Fiorille, Paychex vice president of risk, compliance, and data analytics. “Some items on this year's watch list, such as AI, will introduce both opportunities and complexities for business leaders to manage. Others, like wage and hour regulations or OSHA standards, will require employers to double-down on requirements.”
The in-house compliance team at Paychex continually monitors laws and regulations at federal, state, and local levels that inform educational content available to customers and updates built into Paychex Flex®, the company’s cloud-based SaaS solution. Paychex has identified the following topics that employers should pay close attention to in 2024:
1. Artificial intelligence (AI) regulations: The Biden Administration’s Executive Order on AI established standards for developing and utilizing this emerging technology. Now, Congress and state-level officials have indicated an interest in establishing guardrails for the responsible use of AI in the coming year.
2. Data privacy and cybersecurity: Five state-level consumer data privacy laws were enacted in 2023, adding California, Colorado, Connecticut, Utah, and Virginia to the list of states with unique data-related legislature on the books. The list will continue to expand in 2024, with at least five more states – Florida, Montana, Oregon, Texas, and Washington – passing privacy laws that will take effect in the coming year.
3. Wage and hour laws: More than twenty new minimum wage increases will take effect on January 1, 2024, which may affect employers operating in those states or in multiple regions. Fair scheduling ordinances recently took effect in certain jurisdictions, as have laws eliminating sub-minimum wage rates and tip credits. Additionally, the U.S. Department of Labor (DOL) is poised to announce its final overtime rule.
4. Workplace safety/OSHA: Workplace safety standards will be updated in 2024 as a revised rule requiring designated high-hazard industries with 100 or more employees to submit reports on injuries and illnesses electronically. Meanwhile, regulations regarding extreme heat have also taken effect in some states, with OSHA signaling its intention to explore a federal response to increasingly severe weather.
5. Retirement: With further SECURE 2.0 provisions taking effect in 2024, retirement legislation will continue to be a focus in the new year. Clarifying guidance is expected for several provisions, including student loan matching contributions. At the state level, Maine, New York, and New Mexico are all expected to launch state-facilitated workplace retirement programs in the coming year.
Other areas of regulatory interest for business leaders include family and medical leave regulations and recently updated electronic work verification systems. For more information, read Top Regulatory Issues of 2024: Businesses Should Know and Prepare WORX article.
Company
Paychex
Management
Mike Gioja, SVP- IT, Product Management & Development and Andrew Childs, VP - Marketing
Description
Provider of integrated human capital management solutions for payroll, HR,
retirement, and insurance services
