HR directors optimistic about business growth across Europe

News Article - 25 March 2011
Category: Business

There is growing confidence surrounding business growth across Europe following a recent HR Barometer study.

The research was carried out for the European Club for HR (ECHR) and revealed HR directors across the continent expected revenues and investment to improve at a growing rate in comparison to the last two years.

Indeed the number of companies expecting a reduction in their workforce was market at 26 per cent, an 18 per cent reduction on last year. Meanwhile just four per cent of companies revealed they had missed economic targets, with more realistic objectives seemingly set.

There are three main priorities for businesses on the HR agenda for the next two-year period, with an increased focus on human capital assets. Most notably, leadership development, talent retention and employee engagement.

Employment prospects certainly look promising with many businesses switching their attention to the shortage of talent within their workforce when designing HR policies.

Leonardo Sforza, head of EU affairs and research at Aon Hewitt, said: "The 2011 HR Barometer results suggest that HR leaders have lived - generally with success - through a crucial period of transition from crisis to recovery. HR leaders' confidence is rising and they will be instrumental in leading and developing the business.

"A culture of HR excellence is widely seen as a critical success factor for sustainable business success. The translation of the theory into daily practice is already a reality for leading edge organisations, irrespective of the sector or location of activity. However, without a renewed joint engagement by HR professionals, lines of business leaders and managers, it will be difficult to overcome the current bottleneck and to ensure that HR excellent becomes the norm rather than the exception."

With businesses emerging through a positive period of transition, the need for an extensive HR solution to support every aspect of the employee lifecycle has never been greater.

Access business accounting software offers standalone or fully integrated HR software enabling busy HR departments to streamline the communication, collection and analysis of information across an entire organisation.

For more information, please call Access on 0845 345 3300.

Article keywords: HR Barometer, European Club for HR, ECHR, HR directors, economic targets, human capital assets, leadership development, talent retention, employee engagement, employment prospects, HR policies, Leonardo Sforza, Aon Hewitt, HR solution, employee lifecycle, Access business accounting software, integrated HR software

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