TCP Software Releases Its “State of the U.S. Workforce” Report
Research highlights business leaders’ challenges in adopting technology to manage workforce; positive outlook for 2022 investment plans to close the gap
AUSTIN, TX — January 27, 2022 — TCP Software, a leading provider of workforce management and time and labor solutions, today announced findings from its new survey, The State of the U.S. Workforce: Bridging the Tech Gap to Manage Your People More Effectively. The findings reveal there is high potential for digital acceleration, but there is a gap in technology adoption among the 304 U.S.-based managers and executives surveyed. To understand the current state of the U.S. workforce and technology’s role, TCP sought to underscore the impact of COVID-19 on workforce policies and investment in emerging technology; where opportunities for digital acceleration exist and what may be holding leaders back; and how technology can enhance certain workforce management challenges.
Business leaders are facing more challenges than ever when it comes to managing their workforces, including high turnover and employee burnout. With workforces still dispersed, modern technology helps business leaders streamline operations and keep employees engaged in their work, which is especially pertinent with more than half of employees likely to look for a new job in 2022. The survey found that 32% of respondents are still using manual or simple digital methods, like Excel spreadsheets, to manage critical operational tasks, including collecting time and attendance data. At the same time, respondents strongly believe in–and want to invest in–emerging technology that enhances business operations by addressing repetitive tasks traditionally completed manually.
Key findings of the survey indicate:
- There is a clear disconnect between the desire to implement emerging technology and the speed of adoption – although 80% of respondents believe technology can enhance how things are done in practice, many business leaders have held back on investing in technology solutions.
- Respondents cited common barriers to widespread tech adoption – top reasons included a lack of funds (36%), a lack of IT staff (29%) and a lack of management support 26%).
- However, business leaders recognize the opportunities to fill the tech gap, to build a firm foundation, and to better manage workforces in the coming years – many respondents said that better technology would help streamline and automate everyday tasks (40%); enhance decision-making speed (39%); improve team communication and/or alignment (38%); and increase collaboration across hybrid work environments (38%).
- Recognizing these opportunities, more organizations are planning to make technology investments in 2022 – 72% of respondents noted they have factored HR or workforce management technology into their budgets, and business leaders are paying more attention to technology such as cloud applications (56%), workplace analytics (52%), and mobile applications (46%).
- There is a desire to create a streamlined tech stack to make better technology investments to support employees – to identify employee-facing issues, such as burnout, business leaders need to identify the back-office functions that may contribute to these issues.
“As demonstrated over the last two years, the way we work has changed forever,” said Eric Thurston, President & CEO, TCP Software. “To help increase and maintain employee engagement, attract and retain talent and manage productivity, organizations can benefit from investing in technology that helps them better manage their workforces. Our survey findings indicate that organizations know where they need to invest, and how it can improve business and workers’ productivity. By leveraging emerging technology, business leaders can empower their workforces to focus on value-added work that keeps them happier and more engaged.”
To view the full report, visit this link.
With the help of Researchscape, TCP Software commissioned a survey of 304 U.S. managers and executives. The survey was fielded between October 14-20, 2021.
About TCP Software:
For more than 30 years, TCP Software has helped organizations engage their people by providing flexible, mobile timekeeping, scheduling and workforce management solutions. Trusted by 30,000 customers and millions of users, TCP delivers best-in-class technology and personalized support to organizations of all sizes in the public and private sectors to meet their complex time tracking, employee scheduling, leave management and other workforce needs. TCP’s products include TimeClock Plus, Humanity Scheduling and Aladtec.
V2 Communications for TCP Software