Strategic Roadmap to Drive Growth
Roadblocks
(% extremely or very challenging)
72%
57%
60%
Inflation
Labor Crisis
Cost of benefits increased 4% for the 12 months ending September 2023.3
Economic slowdown
Jobless rate is forecast to increase from 3.8% in 2023 to 4.1% in 2024.2
1
Meet challenging economic conditions by saving time and money on HR, payroll, and benefits administration with our all-in-one technology and guidance from an HR professional.
Outsource HR Tasks
HR Roadblocks
(% extremely or very challenging)
65%
Hiring and retaining good employees
41%
Cybersecurity threats
36%
Maintaining legal and regulatory compliance
1 in 3
Healthcare leaders spend 16+ hours weekly on HR administration
$409,448
spent per year
HR Administration Traffic Jam
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Our tools can help simplify administrative tasks weighing you down so you can focus on the big picture.
The Road Ahead
Top Benefits for the Healthcare Leaders who Outsourced HR Administration:
57%
Offering competitive compensation and benefits
53%
Attracting dedicated and capable staff
48%
Minimizing employee turnover
Other areas in the next 12 months are:
Developing employees and future leader for succession
Creating operational efficiencies with HR administration
Maintaining ongoing regulatory compliance
Managing the hiring process and tracking applicants
Measuring and managing employee performance
And building a positive brand and culture
Clear the Road to Success
Additional benefits included:
Fewer mistakes
Improved employee retention
More effective employee recruiting
Better analytics and reporting
49%
Increase Productivity
With Paychex, you have access to an HR professional to guide and help you to navigate today’s evolving workplace. Reach out and let’s connect.
Paychex Makes HR Brilliantly Simple
Learn More
1 2024 Priorities for Business Leaders, Paychex. 2 Board of Governors of the Federal Reserve System, 2023. 3 U.S. Bureau of Labor Statistics, 2023. 4 Civil Money Penalty Inflation Adjustments, U.S. Department of Labor (dol.gov), 2023. 5 NAPEO.org. 6 Wages and the Fair Labor Standards Act, U.S. Department of Labor (dol.gov), 2023.
Professional employer organization (PEO) services provided by Paychex Business Solutions, LLC (Florida employee leasing license GL7), Oasis Outsourcing, LLC (Florida employee leasing license GL42), and their affiliates, which are licensed or registered to provide PEO services where required by law.
© 2024 Paychex, Inc. All Rights Reserved. | paychex.com | 2116838 12/29/2023
What HR challenges and opportunities do healthcare leaders expect in the next 12 months?
43%
Greater employee satisfaction through use of self-service tools
37%
Improved regulatory compliance
1 in 2
Healthcare leaders outsource HR functions and experience increased productivity
2024 Priorities for Healthcare Leaders