PrimePay, a human capital management (HCM) SaaS company dedicated to people-centric businesses, has released two independent research reports highlighting the connection between employee experience and the utilization of HR technology. The reports, titled “2024: Current State of the Employee Experience” and “2024: The Role of Data and Tech in the Employee Experience,” aim to address a gap in data regarding mid-sized and large organizations’ involvement in the national HR discourse.
- Employee Satisfaction Challenges:
- A staggering 83% of HR leaders reported low employee Net Promoter Scores (eNPS), with only 17% rating employee engagement as excellent.
- Impact of HR Technology:
- Six out of ten organizations with an eNPS above 50 utilize an all-in-one HR system, indicating that excellent eNPS-scoring organizations are more likely to use HR technology.
- Organizations leveraging HR technology to enhance employee experience see improvements in areas such as performance recognition, employee self-service, hybrid work, and talent onboarding.
- Engagement Metrics:
- Companies using all-in-one HR technology report higher employee engagement, with 37% achieving eNPS scores between 51 and 80.
- Reliance on Manual Solutions:
- Over a third of businesses continue to manage employee experience using manual methods, with 39% handling employee data manually and 30% using spreadsheets for data storage.
- Data Management Challenges:
- Forty-three percent of HR leaders cited incorrect or inconsistent HR data as a barrier to effectively managing employee engagement and HR functions like hiring, benefits, and talent management.
Scott Johnson, CEO of PrimePay, emphasized that while mid-sized and larger businesses face similar employee experience challenges as Fortune 1000® companies, they often operate with smaller budgets and limited staff. He advocates for an all-in-one HCM platform to help HR and Finance leaders enhance employee experience, streamline HR processes, and ensure compliance.
