resources

Paylocity Unveils New Market Pay and Scheduling Solutions

June 27, 2023

Achieve more with Paylocity’s newest features. Explore how cutting-edge technology can revolutionize employee retention, development, management and more.

Blog Post

Data Insights, Employee Management, Talent Management, Time & Attendance

Involving employees in the scheduling process empowers them to have a better balance of work and life, driving employee engagement. But good work-life balance isn’t the only factor of employee engagement; fair pay is another significant element. Understanding market pay and ensuring employees are compensated appropriately for their skills and contributions is crucial to attract and retain top talent. Together, these things allow businesses to create an environment that fosters employee satisfaction, loyalty, and long-term success.

Fortunately, we’ve been hard at work on advanced scheduling capabilities and a brand-new pay benchmarking & insights tool to help bridge the gap between where your organization is now and where you want to be. Our scheduling capabilities don’t stop at functionality end user employees will love; we’ve added modern supervisor and leader tools as well.

Attract top talent, pay employees fairly, and stay compliant with Market Pay

Hiring and retaining employees is challenging. Add on laws and regulations like pay transparency and equal pay regulations and it’s even more complicated. Use real-time market insights available directly within Paylocity to easily understand your local market, identify trends, and make data-driven decisions.

Market Pay tips and best practices:

Stay compliant with laws and regulations related to employee pay such as states that require salary ranges in job postings for pay transparency or equal pay regulations.
Understand market salary expectations to attract top talent. Browse market data such as salaries, job descriptions, highest demand locations, and frequency of job postings in your local area to help define new roles and determine competitive compensation.
Have productive discussions about pay with employees by using accessible concrete data to help them understand their pay and decisions regarding it.
Retain top talent by keeping pay competitive. With Market Pay data automatically available in individual employees' records for quick visibility into position and employee outliers, you are able to see if you may need to adjust compensation to meet market pay standards.

“Managing our employees and shifts is challenging, given the various positions and specific skills we need. With Paylocity, I can make smarter decisions based on estimated hours needed for upcoming shifts, get alerts if we are going to run into any overtime, and just generally manage the complexity in a more efficient way. I’ve saved myself a ton of time and headache.”

Director of HR, La Porte County Public Library

Minimize compliance risk, anticipate staffing issues, and increase automation and employee satisfaction with advanced scheduling capabilities

Managing staffing needs, budgets, certifications, employee no-shows and compliance can become a full-time job—which only gets more complicated as organizations get larger. With Paylocity’s advanced scheduling tools, ensure appropriate shift coverage, minimize unplanned costs, increase employee engagement, and minimize no-show rate.

Scheduling tips and best practices:

Validate skills and certifications, inclusive of expirations, to simplify identifying the employees that can be served up to work based on role.
Surface estimated hours required for future workdays to help ensure appropriate coverage and enable real-time alerts to help avoid the extra costs of an employee working overtime.
Empower employees to have a say in when they work by enabling open shift claiming and swapping so they can choose which shifts work best for their schedules.