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 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—in a press release. “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 to 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 multigenerational and nontraditional workers, along with key trends related to employee engagement and HR resources. To view the complete report, click here.
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Author: HR Daily Advisor Editorial Staff