Paycom Publishes Eight Key Findings about Employee Self-Service Technology
June 27 2017 - 9:15AM
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:
1.
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.
2.
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.
3.
User Friendliness Is Key: Ease of
use and single login are the two most desirable aspects of
self-service technology.
4.
Boosted Employee Engagement:
Eighty-one percent of HR professionals agreed that self-service
technology positively impacts employee engagement.
5.
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.
6.
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.
7.
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.
8.
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.
“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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170627005341/en/
Paycom Software, Inc.Kathy Oden-Hall, CMO,
800-580-4505media@paycom.com
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