John Feaman, IPS President, recently sat down to discuss what lies ahead for the payroll industry, IPS and its customers for the coming year.
The past two years have been pretty challenging for businesses to navigate. What do you see as the important shifts in the payroll industry as the country continues moving forward post-pandemic?
“Yes, it has been, and in many ways still is, a trying time for business owners. The worker shortage across many industries is real, and the quest for talent attraction and retention is top of mind for many. What we’ve learned is that the future in payroll, HR and really business in general, is the need to better engage with their employees, offering meaningful steps at empowerment, flexibility and inclusivity.”
What has IPS done to keep pace with the evolving state of the American workforce?
“For IPS, it ties back those ideas of empowerment, flexibility and inclusivity. We want to provide our customers with the tools they need to bring their workforces closer together. That’s never been more necessary as we move to an increasingly remote and hybrid workforce.
“We recently rolled out our new Adaptive Employee Experience (AEE) app and it’s proving to be a real game-changer in how both employers and employees are able to engage and collaborate. As our customers and their employees begin to embrace the platform, it’s making a big difference in their operations.”
What role can IPS play in the coming year in support of its customers?
“We want to help our customers be in a position of strength as they look to solidify and grow their business. That means staying close, listening to their needs and challenges, and then dwelling on solutions that make sense for where they are as a business. We don’t do cookie-cutter options. The market is too sophisticated for that.
“There are new and exciting ways we can help organizations provide employees with greater control over their professional development and affairs. We can shepherd them forward in everything from team communication and collaboration, employee onboarding and education, benefit administration, PTO and scheduling management, and so much more. All of it helps our customers develop a real sense of professional community, and in turn, helps them build a better, stronger business.”
Are there any specifics you can share about what lies ahead for 2023?
“For interested customers, we are offering “Wages on Demand” functionality, allowing employees immediate access to a portion of their earned income prior to their listed pay date.
“All of us at IPS are also excited for what’s coming in the HR space. We recently added the ability to incorporate “Performance Reviews” into our technology platform. Now, both manager and employee have immediate access and communication about current career goals and project objectives. It’s just another example of deeper, meaningful engagement.
“And that’s just the tip of the HR iceberg – there’s more to come in the months ahead that we can’t wait to debut.”