The economic world remains in a state of flux as we watch and wait for a resolution to the debt crisis. And, after using our veto, the UK is very much a spectator in this process.
The uncertainty surrounding the Euro and a flat economy suggests a tough year ahead. But I was buoyed to see that HR professionals appear in bullish mood where 2012 plans and budgets are concerned.
We polled 70 mid-to-senior level HR professionals to gauge expectations for their 2012 budgets in light of the struggling economy. Half of the respondents said budgets would remain the same or increase next year. A further third of those polled (31%) expect a small reduction of their HR budget – by up to 10%.
Put into context, this looks very positive. It suggests that executives are recognising the business value of identifying, developing and engaging talent and aren’t keen to cut back on investment in this area.
It’d be foolhardy to make bold predictions about 2012 while so much uncertainty remains – particularly as the success of the UK’s economy’s is so closely aligned to the rest of Europe. But these figures are at least cause for quiet optimism.
Hannah Stratford, occupational psychologist and head of business psychology at HR consultancy, ETS.
