Study Finds Companies Lack Confidence in Ability to Keep Pace with HR Regs
September 22, 2011 (PLANSPONSOR.com) – A recent ADP TotalSource survey found more than half of companies show lack of confidence in their ability to keep pace with the ever-changing HR regulations.
The survey, titled “Relieving the Pressure: The PEO Approach to Navigating Compliance and Gaining a Competitive Advantage” asked more than 250 small (1-49 employees) and mid-size (50-999 employees) companies what are their most pressing business concerns, key competitive strategies, and confidence levels in terms of HR compliance.
Survey respondents consistently pointed to the following three strategies as being critical to maintaining a competitive edge in today’s marketplace:
• Hiring top
talent
• Maximizing employee productivity
• Keeping overhead low
Respondents also identified their greatest business
concerns, which included:
• The rising cost of benefits
• Finding and retaining good people
• The rising costs of fuel and other
materials
“Our study findings suggest that the strategies companies feel they need to maintain a competitive edge are closely correlated to the most formidable challenges threatening their ability to succeed,” said Maria Black, West Central Region General Manager with ADP TotalSource.
To download a free copy of the full white paper, “Relieving the Pressure: The PEO Approach to Navigating,” visit http://www.adp.com.