Boosting Workforce Productivity

BOOST NG Workforce Productivity. U.S. Companies Focused on Improving HR Functions A recent survey sponsored by Paychex and conducted by the Research Services division of CFO Publishing reveals that the majority of mid-market U.S. companies plan to maximize workforce performance and productivity by improving their HR functions, making better use of technology, hiring highly-skilled workers, and improving their ability to recruit, train, and develop employees. 64% A 60% 55% HR is Making Productivity Sky Rocket HR Blasts Off with the Companies Targeting High-Skill Workers Help of Technology 64% of U.S. companies' HR functions will play a much greater or somewhat greater role in maximizing the overall productivity of their workforce. 60% of U.S. companies will most likely use technology to better position their HR functions to help fuel workforce productivity over the next two years. 55% of U.S. companies plan to ramp up hiring, with most focused on attracting and retaining highly skilled workers over the next two years. Maximizing Output > Minimizing Cost A majority of U.S. companies plan to maximize the output of their workforce as a strategy to boost productivity: 61% are most likely to focus on maximizing the output of their workforce by improving their ability to recruit, retain, train and/or develop employees. 2% 11% 26% are most likely to focus on minimizing the cost of their workforce by improving their ability to manage employee time and attendance, benefits costs, expenses, 26% and/or labor-related taxes. 11% said neither of these options describes their approach. 61% 2% are not sure which strategy they will follow. PAYCHEX Source: "Human-Capital Strategies in a Slow Recovery," CFO Research, Sponsored by Paychex, September 2012.