OKLAHOMA CITY--(BUSINESS WIRE)--
Paycom Software, Inc. (“Paycom”) (NYSE:PAYC), a leading provider of
comprehensive, cloud-based human capital management software, has
released new research in the form of a white paper, The Role of
Self-Service Software: Get the Most Out of a Crucial Technology,
that provides insight into the current benefits of, barriers to, uses of
and overall employer satisfaction with HR self-service technology.
The survey, conducted with HR.com, included 705 HR professionals who
represent a broad cross section of employers, ranging from small
businesses with under 50 employees to corporations with 20,000 or more
employees. About 44 percent of respondents represented organizations
with 500 or more employees.
Paycom’s white paper focuses on the top eight findings from the survey
results:
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1.
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Increased Efficiency: Eighty-seven percent of respondents
agreed that self-service technology is the most efficient way to
provide employees with payroll and HR information. Among firms
with over 5,000 employees, 94 percent agreed.
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2.
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Room for Growth: Forty-three percent of organizations with
self-service technology still use paper or email for the
completion of Form I-9 and other onboarding forms. Although
ability and access exist, self-service technology is not being
properly utilized, leaving significant room for tech growth, and
we expect to see workplace self-service technology being used more
widely in the near future.
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3.
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User Friendliness Is Key: Ease of use and single login are
the two most desirable aspects of self-service technology.
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4.
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Boosted Employee Engagement: Eighty-one percent of HR
professionals agreed that self-service technology positively
impacts employee engagement.
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5.
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Reduction of Paper and Email Dependence: When it comes to
benefits enrollment and address changes, the number of
organizations relying on paper-based processes for these functions
dropped from about two-thirds to about one-quarter when utilizing
self-service technology.
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6.
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Less Data Entry: In nearly half of organizations with
self-service technology, HR still manually enters up to 50 percent
of their employees’ data, indicating room for improvement in
achieving the full benefits of employee self-service technology.
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7.
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Barriers Still Exist: According to 41 percent of
respondents, the most common barrier to having employees enter
data into self-service technology was HR’s concern of whether
employees can do so with accuracy.
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8.
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Reduced Compliance Risk: About 50 percent of HR
professionals agreed that having employees enter their own data
increased the employees’ accountability for data accuracy. That,
in turn, reduced compliance risk.
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“Giving employees access to good, easy-to-use HR technology improves
employee engagement and provides employers with more accurate data,”
said Chad Richison, Paycom’s founder and CEO. “Creating a positive
employee experience could have beneficial effects across an organization
and even has potential to have significant positive impacts on the
bottom line.”
To learn more about the eight key discoveries discussed in Paycom’s new
white paper, The
Role of Self-Service Software: Get the Most Out of a Crucial Technology,
visit www.paycom.com/resources/whitepapers/.
About Paycom
As a leader in payroll and HR technology, Oklahoma City-based Paycom
redefines the human capital management industry by allowing companies to
effectively navigate a rapidly changing business environment. Its
cloud-based software solution is based on a core system of record
maintained in a single database for all human capital management
functions, providing the functionality that businesses need to manage
the complete employment life cycle, from recruitment to retirement.
Paycom has the ability to serve businesses of all sizes and in every
industry. As one of the leading human capital management providers,
Paycom serves clients in all 50 states from offices across the country.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170627005341/en/
Source: Paycom Software, Inc.