WASHINGTON, DC--(Marketwired - June 20, 2016) - Paychex, Inc., a leading provider of human capital management solutions for small- to medium-sized businesses, today released the results of its Paychex Snapshot, finding that an overwhelming majority of HR leaders believe that managing HR has become more challenging.
Seventy-three percent of those surveyed agreed that managing HR has become increasingly difficult in their role as an HR leader. That number jumps to 80% for those serving in an HR director, vice president of HR, or chief HR officer role. Of the HR issues facing the industry today, benefits management (30%), performance management (27%), and recruitment and retention (24%) were top-of-mind among respondents.
"As our data indicates, HR has become more complicated and challenging than perhaps ever before," said Paychex vice president of marketing Andy Childs. "The demands associated with managing more traditional HR issues such as benefits administration are only made more complex given today's regulatory landscape. That's why it's become paramount to streamline processes and integrate solutions wherever possible."
According to one HR director surveyed, "The ways of the past have become completely inefficient. It's hard to believe we used to manually keep track of hours, and everyone had their own manila file with their application, W-2, etc. Although that's become much more efficient, complying with (regulatory issues like) health care reform has become more challenging."
Regulatory Issues Heighten HR Concerns
One in four HR leaders agree that increasing employment regulations have become more difficult to manage in their role. Of those surveyed, 33% of respondents agree that the Affordable Care Act is the regulatory issue of most concern to them. The Department of Labor's recently finalized Overtime Rule is the second-most pressing concern (20%), while workers' compensation/workplace safety (16%), and minimum wage (14%) also resonated.
Technology Making Life Easier
Whether it's traditional HR concerns or new legislation, keeping up with the increasing demands of an HR leader can be a challenge. However, 99% of HR leaders reported they rely on at least some form of technology to help them do their job. According to respondents, some of the top benefits include increased efficiency, accuracy, and convenience.
Paychex announced the results of this Paychex Snapshot from the SHRM Annual Conference and Expo in Washington, D.C., June 19-22, 2016. For more information about how HR leaders can take their HCM to the Power of X, stop by the Paychex booth (#1123) at the conference or visit the Paychex website.
About the Paychex Snapshot
Data included in this Paychex Snapshot was taken from the results of The Paychex HR Survey, administered by Cint. The survey was conducted online between May 20, 2016 and June 2, 2016 and polled 402 HR leaders who held the titles of HR manager, HR supervisor, HR director, vice president of HR, or chief HR officer (CHRO).
Paychex, Inc. (NASDAQ: PAYX) is a leading provider of integrated human capital management solutions for payroll, HR, retirement, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by more than 40 years of industry expertise, Paychex serves approximately 590,000 payroll clients across 100 locations and pays one out of every 15 American private sector employees. Learn more about Paychex by visiting www.paychex.com, and stay connected on Twitter and LinkedIn.
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