Survey: Midsized employers concerned over rising workplace regulation
- Midsized business owners today are most concerned about the growing volume of government regulations, according to a new survey from ADP.
- The 2015 ADP Midsized Business Owners Study found that worry over the level of government relations has risen 36% since 2014, surpassing anxiety over the Affordable Care Act (ACA) and health care costs in general – the two top concerns in ADP’s 2013 and 2014 studies.
- Also, nearly half of survey respondents are extremely or very concerned about the quality of the available workforce, and worries over engaging employees to be active contributors to business success rose 25% over last year
Tom Perrotti, president of Major Account Services at ADP, explained that midsized employers have accepted that the ACA is here to stay, and with that in mind, it comes as little surprise that their concerns are shifting to the next wave of regulatory changes on the horizon, such as the proposed new overtime rules.
He adds that as more Millennials enter the workforce with different expectations about their tenure and relationship with their employers, companies are realizing that engagement is vital to retention. Perrotti says employers see the direct link between committed and motivated employees and their company’s productivity, profitability and customer satisfaction. With that, employers who have such insight are seeking new, innovative ways to increase engagement.