Paylocity (NASDAQ: PCTY), a leader in cloud-based HR and payroll software solutions, today announced Headcount Planning, a new offering that brings together Finance, HR, Talent Acquisition, and hiring managers to create a more cohesive, data-driven approach to workforce planning. This integrated solution builds on Paylocity’s acquisition of Trace in December 2023 and leverages the Paylocity employee record as the single source of truth for company-wide headcount planning. It enables businesses to proactively map headcount needs across the organization, manage workflows and approvals from initial forecasting through opening new roles, and offers comprehensive reporting to stay ahead of ever-changing talent needs as employees join, move, or leave an organization.
As a primarily Finance-led function, today’s headcount planning process is often based on offline spreadsheets, disjointed meetings, and side conversations between different stakeholders. With the launch of Paylocity Headcount Planning, cross-functional teams can now easily come together and collaborate on centralized plans within the Paylocity platform. The result is a common location where business leaders can plan their headcount budgets, view any spend and forecast updates in real time as changes occur within the Paylocity system, and continually develop and adjust automated workflows that ensure the right people are always part of the review and approval process for headcount spending.
“Planning for workforce growth shouldn’t be a manual, time-consuming task that relies on spreadsheets and ad hoc conversations to manage a company’s most valuable resource—its people,” said Toby Williams, Paylocity President and CEO. “With our Headcount Planning solution, we’re bringing together key decision makers across Finance, HR, and Talent Acquisition and ensuring they have the most up-to-date and accurate data from the Paylocity system to nimbly refine and adjust their headcount strategy. This solution gives CFOs and CHROs a way to partner more effectively in dealing with changing market conditions, employee movement, and the profitability pressure nearly every organization faces today. ”
Paylocity Headcount Planning Benefits:
- Plan Creation & Real-Time Management
Users can create or upload annual plans and manage them through the year in a single place— saving time, facilitating collaboration, and keeping everyone across the organization aligned.
- Automation Around the Employee Lifecycle
Seamless connection to HR data automates updates around employee life events from onboarding to role changes and offboarding—driving efficiency and ensuring the right decisions are made as plans change, employees turn over, and new requisitions are approved.
- Set Clear Company Goals
Build top-down or bottom-up hiring plans across departments and see committed forecasts in real time as changes happen. Leaders can set and measure headcount targets—such as budget costs or employee counts—for granular control of staffing plans.
- Expedite Real-Time Changes and Approvals with Powerful Automation Workflows
Conditional workflows proactively notify the right people for approvals at each step in the planning process, keeping everyone on the same page and saving time by implementing a more ideal planning process.
- Transparency to Maximize Human Capital Investments
Dashboards & analytics offer deeper visibility into the decision-making process, efficiency and speed of requisitions, approvals, and job postings. Leaders get a roll-up view that they can use to make adjustments and ensure they are maximizing their people investments.