Human 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."
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