HR compliance plagues companies
The research was conducted by the ADP Research Institute, and was titled: 'Relieving the Pressure: The PEO Approach to Navigating Compliance and Gaining a Competitive Advantage'.
The findings show that more than half of the companies surveyed lack confidence in their ability to keep pace with complex, ever-changing HR regulations, and the majority believe that the HR compliance burden will only grow more difficult with time.
According to Market Watch, more than 250 small (one to 49 employees) and mid-size (50 to 999 employees) businesses were surveyed on their most pressing business concerns, key competitive strategies and confidence levels in terms of HR compliance.
"Our study findings suggest that the strategies companies feel they need in order to maintain a competitive edge are closely correlated to the most formidable challenges threatening their ability to succeed," says Maria Black, West Central Region GM at ADP TotalSource.
"In an ideal world, businesses could focus more squarely on growing their business and developing their people, rather than having to worry about the increasing complexities of human resource management and compliance," concludes Black.
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