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ROSELAND, N.J., Feb. 1, 2011 /PRNewswire/ -- ADP(R), a leading provider of HR, payroll and benefits administration services, today announced the findings of a new study by PwC entitled "The Hidden Reality of Payroll & HR Administration Costs." According to the study's findings, many organizations can achieve greater efficiencies and cost savings by outsourcing payroll and HR administration functions, rather than performing them in-house. Specifically:
Organizations managing payroll, workforce administration, time & attendance, and health & welfare benefits in-house using premise-based or hosted software solutions spend 18 percent more, on average, administering these functions than organizations that outsource to ADP.
Large organizations actually spend 27 percent more to manage payroll, workforce administration, time & attendance, and health & welfare benefits in-house than similar-sized organizations that outsource to ADP.
Organizations using multiple software vendors to administer payroll, workforce administration and time & attendance functions in-house spend 32 percent more, on average, than organizations that outsource to ADP.
Based on data collected from 279 participating large (those with more than 1,000 employees) and mid-sized (100 to 1,000 employees) organizations, the study breaks down the different cost drivers of payroll and HR administration, and details the strategies that are enabling some organizations to administer business-critical functions such as payroll, workforce administration, time & attendance, and health & welfare...