According to the inaugural Paychex Pulse of HR Survey, more than two-thirds of HR leaders at small and mid-sized companies say they have grown beyond serving a traditional administrative function to taking on a more strategic role within their respective organizations. In the survey of more than 300 HR decision-makers from organizations with 50 to 500 employees, Paychex, Inc., a leading provider of integrated human capital management solutions for payroll, human resources, retirement, and insurance services, found that 75% of respondents feel HR technology has enabled them to secure a seat at the leadership table.
According to the Paychex study, 41% of respondents meet with their CEO or CFO – or both – on a weekly basis, while close to one-third have access to top management when they need it. Moreover, 60% of respondents considered their HR technology to be very effective for payroll, retirement and benefits administration, and time and attendance tracking, indicating they feel that technology is allowing them to maximize their effectiveness when it comes to the administration of critical business functions.
“Technology is a powerful tool in our everyday lives and especially for HR leaders, with the right solution offering countless opportunities for increased accuracy and efficiency,” said Martin Mucci, Paychex president and CEO. “Technology, combined with knowledgeable service professionals, can empower today’s HR professionals to make objective, data-driven workforce recommendations to the C-suite that will ultimately help achieve the organization’s overall business goals.”
While technology appears to be helping HR professionals add value to their companies, only 23% of respondents are relying on a single integrated suite. Forty-four percent are using several separate systems with some integration. With that, many practitioners are spending valuable time rekeying data into multiple systems; 30% are spending 15-29 hours per month.
Further enhancing the influence of HR leaders is their ability to make data-driven recommendations and decisions. Eighty-six percent of survey respondents said analytics help them to be more informed and objective, but nearly half are unsure if they’re leveraging the correct data to meet business goals.
The role technology plays in arming HR leaders with the tools and data they need to be a strategic business leader is powerful, but not the only hot topic in the industry today. The Paychex Pulse of HR Survey also revealed insights on managing an ever-changing workforce that includes multi-generational and non-traditional workers, along with key trends related to employee engagement and HR resources. To view the complete report, click here.
For more information about how Paychex can work beside HR leaders to help expand their influence as a strategic business leader, visit www.paychex.com or stop by the Paychex booth (#1133) at the 2017 Society of Human Resources (SHRM) Annual Conference & Exposition, June 18-21, in New Orleans, La. In addition to the Paychex booth, follow along with all of the show’s happenings via Paychex WORX and @Paychex on Twitter.
About the Paychex Pulse of HR Survey
The 2017 Paychex Pulse of HR Survey was conducted online between May 10, 2017 and May 17, 2017 and polled 309 HR decision-makers at U.S. companies with between 50 and 500 employees. This marked the first installment of a three-year, annual commitment to studying the latest trends in HR and technology.
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 45 years of industry expertise, Paychex serves approximately 605,000 payroll clients across more than 100 locations and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting www.paychex.com, and stay connected on Twitter and LinkedIn.