Payroll software programs are going to be even more important for HR professionals, as a new survey found workers' biggest issue with their employers is back pay. While many employers are still recovering from the economic downturn, their staffs are asking for increased compensation to keep up with rising living costs.
Compensation Remains a Factor in Satisfaction
The Society of Human Resource Management just came out with a new employee satisfaction and engagement study, and it uncovered that frozen wages is the No. 1 workplace issue that is standing in the way of workers being happy.
The study asked 600 employees about 35 various factors in their job satisfaction and 33 elements of their engagement. Sixty percent of the respondents said that compensation was "very important" to them, compared to 59 percent saying that job security and the ability to utilize their skill sets. Compensation ranked either as the top aspect to job satisfaction or the second most important factor across all generations of the workforce studied, and it was one of the biggest influencers in numerous employee categories.
Only 50 percent of workers in 2012 received a raise that year, but 56 percent of employees involved in the study said they received a pay boost last year. While this shows a positive trend in employee benefits and compensation, HR professionals should keep an eye out on how their workforce is feeling regarding their earnings.
What HR Can Do to Boost Worker Happiness
Not every employer may be in a financial situation to raise payroll across the company, but HR professionals should look to see if they can improve their payroll management strategies to make the best use of the company's resources. What this means for HR professionals is that they need to ensure they are using the latest HR payroll software to understand the true compensation each employee at the company should be provided.