Ryan Bergstrom, Chief Product and Technology Officer at Paycor chats about the evolving HRTech industry and how the future of HR is set to transform in this quick chat with HRtech:
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Hi Ryan, tell us about yourself and your role at Paycor.
As Chief Product & Technology Officer at Paycor, I am privileged to lead our product, engineering, enterprise IT, and information security organizations. We’re a leading provider of HCM software that connects business leaders with the tools, data, and expertise they need to succeed. These teams are responsible for designing, building, delivering, and protecting our solutions to ensure our customers have a world class experience. During my six-year tenure here, I’ve served as both Chief Product Officer and now Chief Product & Technology Officer, helping guide the company through a successful IPO.
I’ve spent my career working in software and tech leadership – first at companies like Ultimate Software, Epicor, and Spectrum HR Systems, and now I’m the Chief Product & Technology Officer at Paycor. During that time, I’ve had the opportunity to have roles in service, sales, and research and development. Along the way, I’ve really focused on three things I’m passionate about: shaping product strategy, creating solutions that solve critical customer needs, and building teams that do amazing things together.
Can you provide some insights into some of Paycor’s latest product enhancements?
Paycor is dedicated to continuously innovating the user experience and streamlining the HR process for our clients. One of our more exciting recent developments has been the launch of Paycor Assistant, which is an AI-powered HR companion. This tool offers a fully mobile conversational interface, making it easier for users to navigate and interact with our platform. It also has an HR dashboard for administrators to easily track productivity by analyzing usage data, common questions, and employee feedback.
Another significant product enhancement is the introduction of the Paycor Integration Platform. The Paycor Integration Platform is designed to streamline connectivity between our HCM software and any third-party application our customers use that needs people information. It offers three solutions: Paycor Marketplace, providing access to over 320 pre-built connectors for industry-leading HCM vendors; Developer Tools, a set of resources for customers to build integrations, data feeds, and reports; and Developer Services, expert teams that design, build, and support custom integrations if our customers want assistance. Our goal is to make our customers’ lives simpler by reducing the need for HR teams to juggle multiple systems and manage data silos.
Both products reinforce our commitment to leveraging technology to provide a more efficient and user-friendly experience for our customers.
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How are you seeing the latest trends in Human Capital Management Software change the game for the market today?
It’s no secret that HR leaders are contending with a more complicated and faster evolving environment than ever before. Whether related to changing compliance or the latest thinking on how to create an engaged and productive workforce, there is a lot on leaders’ plates. This is creating a massive shift in the market and customers are looking for us to help guide them on how to thrive in this environment. Customers are looking for help introducing new technologies like AI and navigating the risks that come with change. They are looking for help staying on the right side of frequent compliance changes. They are looking for systems to help them excel in their roles. At Paycor, we believe that helping our customers keep up with all of this change starts with an amazing customer experience. We are rolling out updates and new solutions at a faster pace than ever. Through it all, we remain focused on ensuring we are solving the right problems – by focusing a lot of time on customer research and discovery; and ensuring that we are helping our customers every step of the way, whether in the product or via our service experience.
What about HR tech segment on the whole piques your interest?
The pace of change has accelerated to a level that is truly amazing – both from a technology perspective and from what people expect from work. This pace is putting more pressure on HR and business leaders than ever before. There is such an opportunity for HCM systems to help. I’m most interested in equipping leaders with the right tools to successfully guide their teams so they can help drive business results. Leaders are the ones responsible for implementing strategy and if they are lacking in this ability their team will suffer. One of the biggest ways we can help is by empowering our customers to capitalize on the power of their data. The HCM system is the central hub for all people and data, serving as the master data record. Tools like our integration platform allow HR leaders to connect seamlessly with their other systems, providing true data connectivity. This gives them a greater level of efficiency and accuracy than ever before. With that foundation and time savings, leaders can turn their attention to what matters most, focusing on their people and teams to ensure they deliver greater results.
Can you talk about some of the latest AI-powered HR tech features that are set to change the HR game, from the global HR tech market?
Many HR teams are inundated with requests and administrative tasks every single day, making it hard to focus on high- value activities like talent management and business performance. They perform a number of time-consuming and data-intensive tasks on a regular basis. The rapid evolution of AI has created a fantastic opportunity for AI to provide a lift – both in time savings and in accuracy and HR leaders know it. A Tidio study confirmed 67% of HR professionals believe AI has many benefits and could be a net positive impact on HR. AI can help in nearly every function of the business including recruiting, payroll, employee relations, talent management, workforce management, customer support, and more. At Paycor, we have released AI powered tools that help the recruiting process, create job descriptions, source candidates, and help the employee experience like the Paycor Assistant. Other tools include ones that help companies model the future skill needs of their organizations and make it easier to understand employee feedback in employee surveys.
This is just the beginning. We don’t believe that AI will replace people. We do believe that AI will make people better than they have ever been before and we’re excited to keep introducing new ways to deliver on this vision.
If you had to share predictions on the future of HR, HR tech and how the typical HR department will transform due to HR tech innovations: what top thoughts come to mind?
In the future, companies will prioritize enhancing skill development and refining their leaders to meet their strategic needs. There’s a growing skilled worker shortage in the US and companies are going to need to keep investing in their people to meet the challenges ahead. Tools in the Talent Development space will continue to be critical to help companies reach their goals. AI will continue to play a significant role by automating tasks and providing insights. I believe that AI will continue to make people better at their jobs. Like technology changes of the past, it will drastically change the way we work. We won’t see wholesale elimination of jobs, but we will see wholesale evolution of jobs and ways of working. The key will be ensuring that the new tools enable final decisions to stay human-driven while being faster and smarter than ever with the insights and advantages AI brings to the table.
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Ryan Bergstrom is Chief Product and Technology Officer at Paycor, Ryan is responsible for developing the strategy of Paycor’s comprehensive HCM suite to meet the evolving needs of the market. Prior to Paycor, Ryan served as VP of Product Management at Ultimate Software and held leadership roles at Epicor and SPECTRUM.