Benefits March 23, 2005

Employee Assistance Programs Top Outsourced Function

March 23, 2005 (PLANSPONSOR.com) - Employee assistance programs are the most commonly outsourced function, according to the Human Capital Management (HCM) poll from outsourcing firm Genesys.
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With 62% of respondents identifying it as the most popular function to outsource, employee assistance programs led background screening (54%), payroll processing (50%), benefits administration (49%), and payroll tax filing (42%).

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According to survey, freeing up internal staff was the most popular benefit with 51% of respondents citing it, followed by streamlining operations (46%), accuracy and predictability in monthly costs (40%), and a focus on core business (39%).

The HCM also looked at the top priorities in human capital management for the coming year. Leading the pack was talent acquisition and retention (57%), performance management (54%), streamlining processing (52%), and talent and leadership development (50%).

Indicating good news for companies such as Genesys and other outsourcing firms, 50% of respondents stated that their budget expectations for the next 12 months for HR technology and outsourcing would increase.

Self-serviced benefits are also a hot topic in 2005, with 43% of respondents indicating that they have already implemented such programs at the office. Learning management systems are also coming into vogue, with 26% reporting that they will look into and/or purchase such a system in the coming year; additionally, 31% will look into purchasing performance management systems.

Genesys ( www.genesysHCM.com ) is a provider of human capital and outsourcing solutions.

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