Although there has been a sharp increase in the number of web-based HR transactions
in the past few years, and many employers allow access to health care and retirement
benefits information, relatively few employers are allowing employees to access
information about their total compensation online, according to a new survey
by Watson Wyatt.
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customized information for your industry, location, and job.
Get Your Report Now!The "2005 HR Technology Trends Survey" found that web-based HR transactions
have risen significantly--39 percent of the 135 employers surveyed reported that 401(k)/savings
plan transactions take place online, compared with 30 percent in 2002. Meanwhile, 24 percent
of health and welfare benefit transactions (up from 20 percent in 2002) and 16 percent of
"life events" transactions (up from 5 percent in 2002) are managed on the
web.
More than half (55 percent) of employers reported that they offer their workers
online access to personalized health information, 52 percent provide access
to retirement benefits information, and 46 percent provide paycheck information.
However, only 16 percent offer online information about total compensation.
"Employers have a great opportunity to leverage the Internet and increase
the efficiency of their HR processes," noted Amy Litten, personalized communication
practice leader at Watson Wyatt. "However, many employers haven't stepped
up to the plate to take full advantage of what the Internet has to offer."
"The best-practice companies understand that web-based automation can
significantly streamline the cost of HR operations," added Gary Kilzer,
East Division leader of Watson Wyatt's technology solutions practice.