Strategic Human Resources Means Higher Productivity, Lower Turnover
Human Resources; 06/29/11, Elearning Magazine
U.S. organizations are starting to reinvest in human resources (H.R.) services and staffing following the economic downturn of the past three years, according to findings included in Bersin & Associatesâ âThe HR Factbook 2011: Executive Summary.â
Organizations on average spent 1.4 percent more on H.R. programs, services and systems in 2011 than in 2010, with $1,218 spent per employee, according to the March 2011 study, the first of its kind from Bersin & Associates. Some of these funds went to hire additional staff, as H.R. headcount increased an average of 1.8 percent this year. Most organizations focused investments on core services such as compensation, benefits, payroll and employee relations, which accounted for about 60 cents of every H.R. dollar. Approximately one-third of the HR budget went to talent management, as organizations invested more in recruiting and development initiatives.
âThe increased spending on human resources shows how businesses around the world are rapidly starting to rebuild their talent pipelines and cores services to engage and retain people,â says Josh Bersin, Bersinâs chief executive officer and president.
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