Human resources technologyHuman resources and HR technology have taken on greater importance as the sluggish economy puts a premium on avoiding unsuccessful hires. A recent survey shows companies continue to invest in such technology, and many intend to change the structure of their HR operations in coming years.

A Towers Watson survey of HR and HR IT executives from 628 global organizations found 31% plan to spend either more or much more on HR technology this year, while 53% say they will spend about the same. 

"Organizations have to make sure that any new hire is so much better than in the past," says Derek Beebe, a senior consultant with Towers Watson. "If you hired someone five years ago and it didn't work out, that was unfortunate" but companies had some buffer, Beebe says. "But now, organizations have to be so much more precise because they don't have the extra profits to address some non-perfect hiring."

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.