HR Strategy/CHRO ArticlesHR Technology

On the Pulse

New research shares the strategies HR leaders are using in order to stay ahead of changing times. 

The industry is shifting due to a constant influx of global changes, prompting HR leaders to be agile in their approaches to human capital management. What are the factors making the biggest impact? This year’s Pulse of HR report from Paychex reveals the strategies HR leaders are leveraging in order to adapt and support their employees.

With the pandemic driving an increase in digital adoption and the implementation of new HR technologies, this year’s report finds that 50% of HR leaders say that tech platforms help increase efficiency and 40% are reporting easier management of payroll and benefits administration. HR technology offers automation and this is leading to time savings for HR executives. In fact, the report finds that 36% save between 60 and 120 hours each year in creating and analyzing reports and 29% save the same amount of time through employee self-service capabilities.

Perhaps given The Great Resignation and the tight talent market, 50% of respondents say their organizations are not effective at hiring, onboarding, and retention. Some strategies being used by HR to improve their candidate pools include:

  1. using job sites (33%);
  2. employee referrals (33%);
  3. hiring remote workers (31%); and 
  4. emphasizing diversity (31%).

Competitive compensation, flexible work, company culture, and quick offers are the main attractors HR is leveraging to increase acceptance rates. For employee retention, flexibility, and comp lead the way here too, with employee engagement, a commitment to DEI, and pay transparency also being driving factors.

Hybrid and remote work remain popular for organizations and employees alike. In fact, 40% of respondents see benefits of virtual work, including improved emotional, physical, and financial well-being, enhanced quality of life, and increased retention and productivity. 

Some ways that organizations can support remote or hybrid employees include:

  • keeping track of manager and team member meetings (41%);
  • leveraging technology to boost remote employee productivity (39%); and
  • ensuring confidentiality to company surveys and HR questions (37%).
Tags: CHRO-Focused Article, HR Technology, October 2022

Recent Articles