Change In Economy, Change In HR Strategy

2 Feb

A survey out of the United Kingdom published in Consultant News is a good guide for Human Resources professionals regarding what tasks should now be taking priority. The article reports:

Developed from a survey of HR practitioners in 336 organisations, the survey finds that almost a third of the respondents (30%) have changed their HR strategy, switching their focus from recruitment (56% are giving this a lower priority) to areas which more directly impact on organisational performance. 72% of organisations are putting greater emphasis on performance management, 67% on organisational communication and 54% on employee engagement and retention. This change of focus is often linked with the added challenge of a cut in the HR budget. 38% of organisations have reduced their HR budget by more than 5% and 13% have made cuts of over 25%.

The research authors – Ron Eldridge and Anthony Miles – claim that the key challenge for HR teams now is to enable organisational performance.

These findings are in line with our own research, listed in the “Beating the Bear Market” section of this blog. Check out Beating the Bear Marketfor additional details.

Consider:

  • Given the current economic conditions, are we putting our scarce HR resources in the right places?
  • Are there additional ways HR can offer value to line leaders in retaining and engaging employees?
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