Looking back over the last 18 to 24 months, the steady cost consciousness due to declines in revenue and increased operating costs led to job losses at a rapid rate, as well as decreased attention to retention and engagement.
Now, recessionary conditions are easing, and spending freezes are beginning to thaw, including for HR and talent acquisition. When it comes to investing in the human capital of your company, it is imperative to separate the “want to have” from the “need to have” line items in the budget.
Despite showing signs of improvement in the job market, and government reports anticipating stronger hiring by late spring, most companies may not be poised to hire en masse just yet. But for those that have the means to spend on their greatest and most valuable investment — employees — having a clear understanding of what’s most important right now will set the stage for long-term success.
In recent conversations with human resource professionals across a wide variety of industries, a common thread appeared regarding the allocation of dollars traditionally earmarked for talent acquisition. keep reading…