Employers Improve HR Functions to Boost Workforce Productivity [Infographic]

Leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses Paychex recently released an infographic detailing how U.S. companies are boosting the productivity of their workforce by improving human resources—making better use of technology, hiring highly skilled workers, and improving their ability to recruit, train and develop employees. The infographic is based on survey data from164 senior finance executives who work at companies with 50 to 100 employees

“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,” Paychex President and CEO, Martin Mucci, said. “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.”

The data showed that:

• 64 percent of companies’ HR functions will play a much/or significantly greater role in maximizing the overall productivity of their workforce

• 60 percent of companies will most likely use technology to better position their HR functions to help fuel workforce productivity over the next 2 years

• Over the next two years, 55 percent of the nation’s companies plan to increase hiring highly skilled workers

In order to maximize output and minimize costs, 61 percent of companies plan to improve their ability to recruit, train and develop employees; 26 percent will most likely focus on minimizing the cost of their workforce by improving their ability to manage employee time and attendance, benefits costs, expenses and labor-related/other expenses

To download the complete survey results, see here.