According to a recent Veritude survey, executives are quite confident about the economy in 2006. Fifty percent expect 2006 to be on par with 2005, while 45 percent are more optimistic and look forward to a stronger economy.
This is great news for HR suppliers because the survey validates the importance of the following areas:
- Retain existing workforce
- Recruit quality labor
- Expand learning and development
- Hire more full-time employees
- Introduce new performance management programs
- Implement HR technology (i.e., VMS, ATS)
- Enhance workplace security
- Implement work-like program
- Enhance workforce (i.e., via background checks, drug testing)
- Use more temporary workers
- Transition a function to an outsourcer
And in regards to outsourcing, the top six HR functions that executives plan to outsource in 2006 are:
- Employee screening (i.e., background checks, drug testing)
- Executive recruiting
- Recruiting temporary workers (contingent workforce)
- Administrative operations (i.e., payroll, benefits)
- Technology operations
- Training