Home News New Research from Paycor Finds 86% of SMBs Report Employees are Equally or More Productive Working Remote in the COVID-19 Era

New Research from Paycor Finds 86% of SMBs Report Employees are Equally or More Productive Working Remote in the COVID-19 Era

New Research from Paycor Finds 86% of SMBs Report Employees are Equally or More Productive Working Remote in the COVID-19 Era

Human Capital Management (HCM) company Paycor today released “A Paycor Survey, The State of American Business: 2021.” Over the past six months, business leaders have reorganized supply chains, set up remote operations, and made tough financial decisions. Paycor surveyed human resources (HR) and business leaders to understand how American businesses are feeling, what keeps them up at night and what approaches they’re taking to solve problems as we look forward to 2021.

In the first weeks of COVID-19, companies were looking for information on mobilizing a crisis response, including workforce safety. As things evolved, HR and business leaders started making moves to stabilize and support their businesses with the potential to return to the workplace. As they plan for 2021, business leaders are working to anticipate what’s next and set a path for success to rebuild for the longer term. According to Paycor’s survey, 75% of HR leaders are optimistic about future profitability.

In the third quarter of 2020, Paycor fielded a 10-minute online survey and received 2,600 responses from the leaders of small and mid-sized businesses (SMBs – defined as organizations with less than 1,000 employees). Of the 2,600 responses, approximately 40% were finance leaders (CFOs, finance directors and managers) and 60% were HR leaders (HR directors, managers).

Key findings include:

  • Part 1: The Finance/HR Relationship
    • Roughly 40% of respondents agreed that finance and HR are working more closely together as a result of the pandemic.
    • As a result of the pandemic, 51% of HR leaders now look for different qualities in leaders than they did before the crisis. Finance and HR leaders agree on the top two most important qualities: flexibility and collaboration.
  • Part 2: Remote Work
    • At the close of the year, 44% of companies describing the transition from office to remote as a primary focus. Thirty percent of respondents say their remote teams are actually more productive than they were in the office.
  • Part 3: Benefits
    • Eighty-six percent of respondents are concerned about mental health in the workplace, but only 27% are planning on making a change to their benefits offerings in response to mental health issues. Of the 2,600 finance and HR leaders who took the survey, only 444 (approx. 17%) were able to identify specific benefits, like employee assistance programs, that could help them respond to what they perceive as an urgent problem.
  • Part 4: Compliance
    • Sixty percent of respondents predict their business will be more concerned about compliance in the next 12 months while only 9% say their HR technology is “very effective” at mitigating compliance risk. Clunky, outdated HR software may be the reason why 43% say they don’t use technology to automate and manage compliance.

To access the full report, please click here.

Eskalera, a Startup Led by Goldman Sachs’ Former HR Head Has Launched a Diversity and Inclusion Index

Eskalera, a technology startup led by Goldman Sachs former human resources head Dane Holmes, has launched an index to measure corporate diversity and inclusiveness,...

HSBC to Remove 35,000 Jobs Amidst Covid-19 Crises

HSBC Holdings Plc has restarted cutting as many as 35,000 jobs, three months after the coronavirus outbreak forced it to pause a long-awaited overhaul...

Genpact Offers Its Internal Skill Training Program Globally for Everyone

Genpact has announced Adapt and Rise, a role-based online learning platform that leverages Genpact's expertise honed from delivering real-world change for hundreds of clients....

San-Francisco Based Learning Platform Degreed Has Raised $32 Million in New Funding

The upskilling platform, Degreed, has announced $32 million in new funding in direct response to overwhelming demand for better skill insights, talent mobility, and...

Research Shows the Implications of Workplace Layouts on Employee Productivity and Overall Performance

As some workplaces prepare for the gradual return of employees and overhaul office layouts and seating plans, research has shown this could also have...

Employee Concierge ‘Back Technologies’ Integrates Automation Into Internal HR and Other Support Tasks

Companies are under increasing pressure to automate workflows and digitally service their employees, particularly in light of trends toward remote work. It takes an...

HR Strategies to Help Your Business Navigate the New ‘Normal’

No business is immune to the massive changes resulting from the health crisis. Organizations have proven themselves to be agile, and employees have demonstrated...

The Importance Of Diversity And Inclusion In HR, Hiring, Talent Management: Thoughts From A Top Expert

Michael C. Hyter is one of today’s best-known experts on inclusion and diversity and the author of The Power of Choice: Embracing Efficacy to Drive Your Career and The...

HR Expert Highlights Actionable Steps to ‘Make Real Change’ Against Racism in Your Workplace

Kyra Leigh Sutton, Ph.D., is a faculty member at the Rutgers University School of Management and Labor Relations, where she teaches human resources courses...

Adidas Employees Want Company to Investigate HR Chief for Response to Racial Issues

A group of Adidas employees from around the globe is asking the company to investigate its chief human resources officer, as part of a...