Human Resource Executive®’s Top HR Products contest spotlights the most innovative new solutions on the market that are helping business leaders meet the ever-evolving HR needs of their organizations.
This year, Top HR Products joined forces with Awesome New Technologies. The experts chose 16 winners, several of which will be featured Oct. 28 during a keynote at the virtual HR Technology Conference set for Oct. 27-30.
Click here for more information and to register for HR Tech 2020.
Here’s a look at one of the Top HR Products of 2020:
Next Gen Pay
What it is: The Next Gen Payroll Platform enables companies to revolutionize the way they pay their employees. Built natively on the public cloud, Next Gen Pay is a real-time global payroll platform that gives practitioners and employees transparency into how they are paid. With patent-pending rules for configuring payroll, this is realized through a natural language “policy catalogue” that allows practitioners to easily understand regulatory and policy changes by modeling the real impact to the bottom line. The same technology delivers a breakthrough employee experience with transparency and predictive insights to model and understand the impact of potential life changes.
Why we like it: Payroll is the foundational HR technology that all organizations must adopt. With myriad statutory and regulatory requirements and rules surrounding payroll, along with the need for organizations to remain compliant across these rules, payroll can be seen as largely an administrative burden and not an area where innovation can drive better user experiences and improved decision-making. But this product shows that, with modern technology, payroll can indeed be more than an administrative support solution. The ability for payroll and HR leaders to leverage real-time cost modeling of policy changes and the impact to an employee of a potential life change turns payroll into a dynamic, forward-looking business insights tool.
As always, we encourage you to perform your own due diligence before making any investments.