The need to empower HR and simplify the lives of employees everywhere is constant. Now, this mission is echoing on a global stage. Today, Paycom was named to Fast Company magazine’s World’s Most Innovative Companies List in the Enterprise category in 2022. Paycom was recognized not only for its industry-leading, single software as a whole, but also Beti®, the self-service payroll experience introduced last year. Notably, Paycom was the only HR and payroll technology provider to make the global list.
To build this list, Fast Company sought the most groundbreaking businesses worldwide, providing a glimpse into the future of innovation. Nominees are pulled from the global economy’s most dynamic sectors, including education, entertainment, health care and technology.
In highlighting Beti, Fast Company proves payroll is a process every company must get right. In 2021, Beti’s game-changing functionality made it a Top HR Product of that year to Human Resource Executive magazine.
“It is an honor to be recognized among the most innovative companies in the world,” said Chad Richison, founder and CEO of Paycom. “Since founding this company, we have been driven to challenge the status quo in order to transform the way businesses engage their employees, ultimately working to simplify life for employees. Beti is the future of payroll and just one way we continue to disrupt the industry.”
The future of payroll, today
Launched in 2021, Beti further automates the payroll process by allowing employees to access, view, verify, troubleshoot and approve their paychecks before payroll runs. After all, employees already manage all other aspects of their compensation — including timecards, expenses, PTO requests and benefits — and giving them the ability to approve their own payroll is a leap for the process’s evolution.
Beti automates and streamlines payroll by empowering workforces to own their data, helping reduce the errors behind costly retroactive adjustments, such as direct deposit reversals, ledger corrections, wire transfers, rushed manual checks and more.
According to a recent survey conducted by OnePoll and commissioned by Paycom, 77% of employees are frustrated with outdated technology in the workplace, and the ability to see the details of their pay in advance was cited among HR tech’s top three most useful aspects. Beti addresses this issue by delivering the consumer-grade experience today’s top talent expects, making it invaluable for strengthening employee insight and overcoming the Great Resignation.
In doing so, it allows HR professionals to remove themselves from the tedious, redundant aspects of payroll, thus reducing their stress and freeing them to focus on more high-level, strategic endeavors and accomplish even greater goals.
For more information about this award, read Fast Company’s official announcement. And to learn more about how we’re transforming the HCM industry, explore Paycom’s comprehensive, single software.
DISCLAIMER: The information provided herein does not constitute the provision of legal advice, tax advice, accounting services or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional legal, tax, accounting or other professional advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation and for your particular state(s) of operation.
