Midsized Businesses Worry
Health Care Costs
A new ADP Research Institute® (ADPRI) study reveals that midsized business owners are most concerned about rising health care costs, health care reform legislation, and the volume of government regulations. However, these same businesses are now less concerned with employee engagement, compared with the prior year's study.
ADPRI said the combination of these factors may mean that midsized business owners are letting their talent bases erode while they focus on these other priority issues. John Ayala, President of Major Account Services at ADP, acknowledges that midsized businesses have a lot on their plates.
"Midsized business owners can't be so distracted by what's going on in national or state governments that they neglect their most important asset:their people," Ayala said. "Successful companies need to ensure they do everything they can to help drive success—and that includes remaining compliant while at the same time focusing on motivating and empowering their employees. By using integrated human capital management systems, companies can ensure they have a holistic view of their workforces and data-driven insights to make better informed talent management decisions."
Visit www.adp.com to learn more.
Mastercard Launches New
Digital Payment Solution
Mastercard has announced the Mastercard B2B Hub, a more efficient way for small and midsized businesses to optimize invoice and payment processes with accounts payable and payment automation tools.
With the Mastercard B2B Hub, companies will reduce costs of manual accounts payable and payment processes of using checks. In addition, it can enable a more secure electronic payment experience by providing enhanced data and insights, offering easier reconciliation, and meeting funding needs of companies.
Colleen Taylor, Executive Vice President of New Payments Business for Mastercard, said midmarket and small businesses are growth engines of the economy and that the Mastercard B2B Hub will meet their payment needs.
"We see this solution as helping organizations maximize every minute and every dollar that they invest in their business," Taylor said. "The comprehensive automated payment experience we deliver will help improve supplier relationships and accelerate the conversion of B2B payments from paper checks to electronic payments."
Visit www.mastercard.com to learn more.
HR Gaining C-Suite Influence
With Tech Capabilities
According to the inaugural Paychex Pulse of HR Survey, more than two-thirds of HR leaders at small and midsized companies say they have grown beyond serving a traditional administrative function to taking on a more strategic role within their respective organizations. In the survey of more than 300 HR decision-makers from organizations with 50 to 500 employees, Paychex Inc. found that 75% of respondents feel HR technology has enabled them to secure a seat at the leadership table. Forty-one percent of respondents meet with their CEO or CFO—or both—on a weekly basis, while close to one-third have access to top management when they need it.
Moreover, 60% of respondents considered their HR technology to be very effective for payroll, retirement and benefits administration, and time and attendance tracking, indicating they feel that technology is allowing them to maximize their effectiveness when it comes to the administration of critical business functions.
"Technology is a powerful tool in our everyday lives and especially for HR leaders, with the right solution offering countless opportunities for increased accuracy and efficiency," said Martin Mucci, Paychex President and CEO. "Technology, combined with knowledgeable service professionals, can empower today's HR professionals to make objective, data-driven workforce recommendations to the C-suite that will ultimately help achieve the organization's overall business goals."
Visit www.paychex.com/ to learn more.