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Paychex Infographic: U.S. Companies Improve HR Functions to Boost Workforce Productivity

2013-02-12 15:00 ET - News Release

New infographic is based on data from a human-capital strategies survey sponsored by Paychex and conducted by CFO Research

Company Website: http://www.paychex.com
ROCHESTER, N.Y. -- (Business Wire)

Paychex, Inc., a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses, released an infographic today based on survey data that details how U.S. companies with 50 to 100 employees are boosting the productivity of their workforce by improving human resource functions.

Paychex Infographic: U.S. Companies Improve HR Functions to Boost Workforce Productivity

“Because of the new economic reality, American companies are doing more with less by focusing more of their time and resources on improving productivity and efficiency,” said Paychex president and CEO Martin Mucci. “As our new infographic details, human resources are playing a greater role in maximizing productivity, and technology is one of the primary tools being used to make that happen. Paychex demonstrates its commitment to delivering the tools America’s businesses need by investing in next-generation technology. Our comprehensive suite of fully scalable workforce solutions automates the management of the employee lifecycle through a single web-based client portal that saves administrators time, while providing the control, flexibility, and reliability their organization requires.”

The new Paychex infographic is available for download and embedding at https://www.paychex.com/secure/one-source-solutions/cfo-request.aspx.

In addition to the data detailed in the new Paychex infographic, the Human-Capital Strategies in a Slow Recovery survey provided the following additional data:

When respondents were asked, “To what extent does your company plan to increase or decrease hiring over the next two years?”, 64% of companies answered that they would increase substantially or modestly while 25% of companies answered that they would stay the same. Only 10% of companies said they would decrease modestly, 0% decrease substantially, and 1% were not sure.

Going a step further, when companies were asked about their primary motivations for hiring over the next few years, 54% of respondents cited “increase production/sales capacity,” 40% cited “acquire specialized knowledge, expertise, or technical skill experience,” 18% cited “acquire specialized management skill/experience,” 18% cited “increase capacity in support functions,” while only 11% cited “other” or “not sure.”

When asked, “To what extent do you agree with the statement: ‘Over the next two years, my company will face substantial pressure to increase the size of compensation/benefits packages offered to employees’?”, 51% of companies said that they agree strongly or agree somewhat with the statement.

Respondents were also asked to complete the phrase, “In our industry, competition for qualified employees is currently…”, 55% respondents stated moderate, 24% stated intense, 18% stated minimal, and 4% states it depends or not sure.

86% of respondents said they agree somewhat or agree strongly with the following statement, “Over the next two years, our ability to attract, develop, and retain qualified employees will be an important source of competitive advantage for my company.” Only 9% disagreed and 4% of respondents were not sure.

To download the results of the complete survey, visit https://www.paychex.com/secure/one-source-solutions/cfo-request.aspx.

About the Paychex-CFO Research Survey: Human-Capital Strategies in a Slow Recovery is a survey sponsored by Paychex and conducted by CFO Research, a division of CFO Publishing, in July 2012. The survey is based on responses from 164 senior finance executives in the United States who are employed at companies with 50 to 100 employees.

About Paychex

Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 567,000 payroll clients as of May 31, 2012. For more information about Paychex and our products, visit www.paychex.com.

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Paychex, Inc.
Tracy Van Auker, 585-387-6433
Public Relations Program Manager
Eric Mower + Associates
Tom Brede, 585-389-1870
Counselor, Public Relations & Public Affairs

Source: Paychex, Inc.

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