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November 30, 2005
Few Employers Providing Total Comp Info Online

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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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.

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