HR ANALYTICS

Talent Hiring, Workforce Diversity, and Employee Benefits Lead the Demand for Businesses Evolving from COVID-19 Pandemic

Pranita Sanas | July 27, 2021

Talent Hiring, Workforce Diversity, and Employee Benefits Lead the Demand for Businesses Evolving from COVID-19 Pandemic
The 2021 Paychex Pulse of HR Report shows that enticing talent tops the list of trials affecting Human Resource professionals as they adjust to the newly developing work culture due to the COVID-19 pandemic. The 5th annual report by Paychex, Inc., the Human Resource software and services organization that delivers the power of effortlessness for increasingly complex offices, shows that 61% of the 1,000 Human Resource leaders surveyed consider hiring the right talent is the most challenging task. Offering Diversity, Equity, and Inclusion (DE&I) programs represent the most significant challenges, competitive benefits and planning, and managing diversity, both coming in at 57%

A New Focus on Employee Wellness.

Human Resource leaders agree that organizations have a role to play in supporting the psychological health of their staff, with only 4% stating they do not see worker mental health conditions as their responsibility. In addition, human resource administrators realize a new position of supporting a healthy work-life balance for their staff, with 72% of those surveyed have estimated and/or adjusted their time off policies in the past 12-months.
Furthermore, proprietors are becoming more flexible concerning where and when work gets done. For instance, due to pandemics, 40% of responders say they are offering flexible scheduling as a benefit, and 49% will continue to offer telecommuting and work from home options as a benefit.

Strategic Priority - Diversity, Equity, and Inclusion

Prioritizing corporate Diversity, Equity, and Inclusion (DE&I) is also in the mind of the Human Resource leaders, with 30% of Human Resource decision-makers preparing to place more weightage on Diversity, Equity, and Inclusion activities in 2021, while almost half of respondents will increase their weightage on Diversity, Equity, and Inclusion by 2022.

Steps corporates are taking to attain their Diversity, Equity, and Inclusion (DE&I) initiatives include:
• Providing technology to ease approachable and private communications on Human Resource-related questions: 39%
• Providing training related to bias-related issues: 38%
• Developing a system to keep managers and teammates linked: 38%

Despite the clear need among companies to strengthen Diversity, Equity, and Inclusion (DE&I) programs, Human Resource leaders are facing challenges in two key areas –
• Hiring resources to attract diverse candidates 45%
• Changing company culture to embrace DE&I initiatives 44%

Technology's Crucial Role

Additionally, 89% of participants reported that their Human Resource systems let them be more calculated in their roles. While 80% say, they have the latest tools in place to evaluate workplace efficiency and productivity. Technology enhancement remains the top priority on the budget wish list among Human Resource leaders for the second year in a row.

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