http://bit.ly/1wKRa7v As a business owner, how are you tackling HCM-related compliance? Are you confident your organization has the right systems in place to keep up with an increasingly complex regulatory environment? According to the results of a new study conducted by ADP and CFO Research of 161 senior finance and HR executives at mid- to-large sized employers, managing human capital management (HCM)-related compliance processes continues to be a significant challenge. Many respondents cite new regulatory requirements (53 percent) and increased regulatory oversight and enforcement (45 percent) as two of the main factors that make HCM-related compliance management so difficult.

1. Disconnected people, processes
and technology increase
HCM-related compliance costs
And drain company resources

2. A RECENT SURVEY from ADP and CFO Research shows that many companies
still rely on separate systems and manual process to manage their human
capital management-related compliance, which in turn increases the cost of
compliance. The research also identifies the top changes to HCM-related
compliance management that could provide the most benefit to companies.

3. 42%
of HR and finance leaders at
companies surveyed do not
have access to real-time,
consolidated HCM-related
compliance data through a
dashboard or other technology
platform.
35%
of survey respondents say they
spend more time today on
HCM-related compliance than
they did two years ago,
compared to only 13 percent
who say they spend less time.
of companies rely on
multiple, separate
information systems or
manual processes to
manage their HCM-
related compliance.

4. 58%
of survey respondents
graded the ease of use
of software systems and
applications that their
company uses to manage
HCM-related compliance
a “C or lower.”
NEARLY
1/3
of survey
respondents
disagree with the
statement, “The
system(s) my
company employs
for HCM-related
compliance
activities are easy
to understand and
use.”

5. 78%
of survey respondents say a lack of integration of
HCM-related compliance processes and
information systems increases their company’s
compliance costs.

6. of survey respondents say
their company’s management
rarely or never use HCM-
related compliance data to
support their business
decisions.
of survey respondents say the
time and attention required
for HCM-related compliance
activities are a drain on
company resources.
of survey respondents say it
takes more effort than it
should to enter or update
data in their company’s
HCM-related systems.
of survey respondents say the time and
effort required for HCM-related
compliance activities substantially or
moderately increases the cost of
complying with the requirements of the
Affordable Care Act (ACA).

7. 80%
of survey respondents say
making their company’s
HCM-related compliance
systems easier to use is
important.
38%
of survey respondents say
improving the existing
technology and systems they
use to manage HCM-related
compliance would provide the
most benefit to their company.
of survey respondents
say their company’s
staff will need to spend
more time on HCM-
related compliance
activities over the next
two years, primarily
due to:
New
regulatory
requirements
Increased
regulatory
oversight
and
enforcement
Lack
of
integra:on
between
the
systems
they
use
to
manage
compliance

8. 26%
of survey respondents
say the greatest benefit
would come from
investing in new
technology.
24%
of survey respondents
say consolidating or
centralizing compliance
activities will provide the
most benefit.