Dive Brief:
- Ever-increasing regulatory compliance and C-Suite demands for strategic HR are making life rough for mid-market HR leaders, but apart from those stress factors, employees still want the basics: meaningful work, efficient HR processes and competitive benefits, according to new research.
- The report, "Where Purpose Meets Performance, Can HR Tech Solve Culture?", found that a majority of mid-market HR and finance decision-makers also see core HR technology and improved employee benefits as having the most promising chance for post-investment ROI.
- So there is overlap, the study found. Mid-sized employers are looking to focus on core HR and benefits, not silly perks and gimmicks, to create a healthy company culture of engaged employees, according to Matt Straz, founder and CEO of Namely, the cloud-based middle market HR platform.
Dive Insight:
Among the most interesting survey results, 57% of employees said "meaningful work" contributes most toward a positive workplace sentiment. When asked to rate employer-provided perks, 54% chose "benefits and paid time off" as what drives engagement most. From the executive suite, when mid-sized employers were asked which factors they believe offer the best ROI, nearly 60% also ranked "benefits and paid time off" well above rewards programs, team outings, office environment, snacks and recognition.
It's no surprise that the best chance to reinforce culture and engage employees happens during onboarding and benefits open-enrollment periods, or at the time when payroll and PTO information is being reviewed, according to the #HRWins report, authored by industry analyst George LaRocque.
LaRocque said employee engagement is "not about pulse surveys, ping pong tables and happy hours," adding that today's workplaces, with a growing number of millennials, have the same basic needs. "People, meaningful work and strong corporate cultures are leading us forward and modern, core HR technology is illuminating that path," he says.