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Genesys Human Capital Management Trends Survey Reveals What Will Shape Strategies for 2006 Companies Continue to Outsource HR and Payroll Services METHUEN, Mass. (April 4, 2006) - - Genesys, a provider of outsourcing services and software for human resources (HR) management, payroll, benefit administration and payments, self-service, learning, performance management, recruitment and time and attendance, today announced the results of its Human Capital Management (HCM) trends survey for 2006. According to respondents of the survey sponsored by Genesys, the top HCM priorities for 2006 include:
In addition, 18% of respondents also indicated that aligning people and business goals would be an important priority in the coming year. Moreover, 38% of respondents indicated that budget expectations over the next 12 months for HR technology and outsourced solutions would increase, by as much as 9% in some cases, thereby enabling funding of the services and tools required to support these top priorities. Of the many solutions in the human capital arena, respondents identified outsourcing the following functions as among the most predominant:
In addition, and consistent with the findings of The Outsourcing Institute's Annual Survey of Outsourcing End Users, were the results of the Genesys study which demonstrated the following benefits of outsourcing were most appealing to respondents:
With respect to self-service initiatives, when asked about adopting employee/manager self-service, 43% of respondents said it was not a priority. And yet respondents saw the greatest benefits of self-service as: employee ownership of general data, online open enrollment, reduction of calls placed to HR and overall cost savings, respectively. When asked to describe the reasons for choosing an outsourcing vendor, Genesys survey respondents indicated price was key. Again, this is consistent with the results of The Outsourcing Institute's Annual Survey. Other important factors in vendor selection were breadth and depth of product line, financial stability and references/reputation. "HRO has indeed proved to be more complex than industry veterans first thought. Nonetheless, vast business benefits can be gained by organizations who embrace the HRO model," said Ruth Ladner, Chief Operating Officer, Genesys. "We are pleased to see the results of our survey confirm that organizations are embracing the need for strategic human resources outsourcing to streamline operations, reduce administrative overhead and gain economies of scale." About Genesys Founded in 1981, Genesys is a proven Human Capital Management leader, providing solutions that transform the workplace and accelerate growth. The Company's web-based suite, PeopleComeFirst®, streamlines human resources, benefit administration and payments, payroll processing, self-service, competency-based learning management, performance management, recruitment and time and attendance. Implemented as either HRO (human resources outsourcing) services or as licensed software, PeopleComeFirst is also available to third party service providers through the HRO Partner Program. A trusted advisor committed to superior customer service, Genesys provides unprecedented choice, flexibility, and satisfaction to its clients. For more information, visit www.genesysHCM.com or call 800-580-5450. # # # Trademarks and registered trademarks referenced herein remain the property of their respective owners. - Back to Top - Copyright © 2000 -
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