HCM Trends Survey Highlights

Genesys, an HR services and application software provider, announced the HCM trends survey for 2007. Below are the highlights of the survey:
* 30% of all respondents identified Payroll outsourcing as among the most predominant in the Human Capital arena while 28% identified Employee Assistance programs; 27% identified background screening and 21% identified payroll tax filing
* 18% of respondents felt free-up internal staff is the prime advantage of HRO; 17% felt streamline operations is the advantage; 17% felt HRO enables access to world-class capabilities and industry expertise while 14% felt accurate and predictable monthly costs are the prime advantages of HR outsourcing
* The majority of the respondents gave the reason for choosing their outsourcing vendor as Price. Other reasons in vendor selection included in line with previous years were breadth and depth of product line, financial stability and references / reputation
* 37% of the respondents identified talent and leadership development combined with talent retention and acquisition as the top priority for 2007; 21% identified aligning people and business goals as top priority for 2007 while 18% identified performance management
* 17% of the respondents indicated that streamlining processes would be an important priority for 2007
* 43% of all respondents indicated a status quo when asked about budget expectations over the next 12 months for HR technology and outsourced solutions while 31% expected an increase in budget
* When asked about employee/manager self service, 36% of the respondents claimed to have implemented employee / manager self-service while 39% said it was still not a priority
* Respondents saw the greatest benefits of self service as employee ownership of general data, online open enrollment, and the reduction of calls placed to HR