SAN LEANDRO, California, December 9, 2014 /PRNewswire/ --
TriNet Survey Highlights Pain Points for CEOs
TriNet (NYSE: TNET), a leading cloud-based provider of HR services, today announced the results of its CEO HR Pain Points Survey. The survey revealed that concerns surrounding HR weigh heavy on the minds and time of CEOs. 33 percent of CEOs cited HR documentation and workplace compliance as their greatest worry, followed by litigation and hiring practices, at 25 and 18 percent, respectively. With CEOs surveyed also saying that they spend an average of up to 46 percent of their time on HR issues, the need for specialist expert advice and solutions is paramount.
"Government doesn't think about the size of a company when it sets new legislation and compliance regulations. If not properly prepared and equipped, small and medium size businesses can quickly be distracted and hampered by the complexity and weight of regulation," said Burton Goldfield, president and CEO at TriNet. "Expert advice and bundled technology solutions help manage compliance, candidate search, employee performance, benefits, payroll and expenses. They transform the function of HR from a burdensome time-suck on an SMB into a strategic business asset and driver."
The TriNet survey was conducted by eMedia and comprised 469 CEOs of small and medium size businesses from various industries including technology, biotech and financial services.
Additional findings in TriNet's 2014 CEO HR Pain Point Survey
- CEOs spend an average of up to 46 percent of their time on HR issues, including management of on-the-job employee safety, benefit compliance, hiring practices and workplace litigation.
- 30 percent of CEOs don't measure the ROI on HR.
- Nine percent of CEOs provide perks to boost benefit and compensation packages.
- Five percent use contests and incentives to help keep employees motivated.
- Only 11 percent of CEOs spend time on managing or improving employee benefits while 63 percent said they rely on benefits to encourage employee retention.
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TriNet is a leading provider of a comprehensive human resources solution for small to medium-sized businesses, or SMBs. We enhance business productivity by enabling our clients to outsource their human resources, or HR, function to one strategic partner and allowing them to focus on operating and growing their core businesses. Our HR solution includes services such as payroll processing, human capital consulting, employment law compliance and employee benefits, including health insurance, retirement plans and workers compensation insurance. Our services are delivered by our expert team of HR professionals and enabled by our proprietary, cloud-based technology platform, which allows our clients and their employees to efficiently conduct their HR transactions anytime and anywhere. For more information, please visit http://www.trinet.com.
1. CEO HR Pain Points Survey was conducted by eMedia Communications LLC on behalf of TriNet in April 2014.
2. Factoring the time based on a typical eight-hour workday, CEOs spend roughly 963 work hours per year on HR.
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