ROSELAND, N.J., Oct. 13, 2014 /PRNewswire/ -- A new study
released today, by the ADP Research Institute®, a
specialized research group within ADP®, a global
leader in Human Capital Management (HCM), reveals a gap in
confidence for midsized businesses when it comes to the U.S.
economy. The study shows that while only 15 percent of
midsized businesses are confident that the U.S. economy will
improve in the next 12 months, more than half, or 51 percent,
expect they will see improvement in the industry in which they
work. The annual study also uncovers top concerns of midsized
business owners. This year the cost of health coverage and
other employee benefits, the complexities of the Affordable Care
Act (ACA) and the level and volume of government regulations were
the top three concerns of midsized businesses.
The ADP Research Institute® defines midsized
businesses as those with 50 to 999 employees. According to
the National Center for the Middle Market, midsized businesses
represent nearly one-third of private sector U.S. GDP and
contribute to more than a third of U.S. jobs.
"Midsized businesses, those that live between Main Street and
Wall Street, are major drivers of the U.S. economy," said
Anish Rajparia, President of Major
Account Services at ADP. "The concerns and trends highlighted
in this report provide valuable insights into this significant, yet
understudied business sector."
In its third year, the study examines the concerns, perceptions,
challenges and plans of more than 750 business owners and
executives at U.S. midsized companies. This year's findings
point to the following top three concerns for midsized business
owners and executives:
- Sixty-nine percent are concerned with the cost of health
coverage and other benefits
- Fifty-four percent are concerned with health care reform
legislation
- Fifty-one percent are concerned with the level and volume of
government regulations
Another key finding is that more than one-third of midsized
businesses reported being fined or penalized for not complying with
laws pertaining to how they manage their workforce.
Interestingly, of those fined, 58 percent did not know how much the
fines cost and 47 percent did not know how many times they were
fined.
"According to ADP internal data, in 2013 alone there were more
than 19,000 proposed changes to laws and regulations that impact
how businesses manage employees, so it comes as little surprise
that the level and volume of government regulation made our list of
top concerns three years running," added Rajparia.
To obtain a free copy of this ADP Research Institute whitepaper
visit http://adp.com/MidsizeBusinessConcerns.
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About the ADP Research Institute®
The ADP Research Institute provides insights to leaders in both
the private and public sectors around issues of human capital
management, employment trends and workforce strategy.
About ADP
Employers around the world rely on ADP® (NASDAQ: ADP)
for cloud-based solutions and services to help manage their most
important asset – their people. From human resources and
payroll to talent management to benefits administration, ADP brings
unmatched depth and expertise in helping clients build a better
workforce. A pioneer in Human Capital Management (HCM) and
business process outsourcing, ADP serves more than 610,000 clients
in 100 countries. ADP.com.
The ADP logo and ADP are registered trademarks of ADP,
LLC. All other marks are the property of their respective
owners. Copyright © 2014 ADP, LLC.
Media Contacts:
Allyce Hackmann, ADP
(201) 400-4583
allyce.hackmann@adp.com
Mark Stanley, Edelman
(212) 738-6105
Mark.Stanley@edelman.com
SOURCE ADP