During the recession, when budget cuts were being made across the board and people were losing their jobs, there was a branch of HR which became extremely valuable – Talent Management. With people being let go, it became vital to maximize performance from the employees still working. This trend of importance is still going strong in 2010, according to a survey by Towers Watson. They’re a global services company who delivers trends in the HR world.

According to Towers Watson’s survey, HR professionals listed ‘talent/performance management systems’ as the most critical issue of HR. 42% of the respondents listed talent management as the most important aspect of HR. Interestingly, ‘cost’ fell off the list of top HR issues. This has led to a drastic increase in HR technology budgets.

Tom Keebler, Global Practice Leader with Towers Watson’s had this to say about talent management, “Talent management technologies have unquestionably become one of the best ways for companies and HR departments to drive better employee performance and enterprise success following the recession.”

“In spite of the initial costs, organizations are increasingly deploying new or enhanced systems, recognizing that efficient and effective HR processes enable the flexibility and agility employers need in an uncertain but growth-oriented business environment.”

During the recession, investments in HR technology didn’t drastically decrease like other aspects of business. Now, in 2010, the outlook is looking better with 83% increasing or maintaining their tech budgets.

Keebler speaks about HR investment, “HR’s reliance on technology to achieve greater efficiency and cost savings during the recession allowed it to maintain and even grow HR technology budgets in a challenging business environment.”

“As companies recover and budgets expand once again, leaders appear ready to make a forward-looking commitment to talent management systems that will reap substantial long-term rewards for the HR department, line managers and the broader organization.”

If any lesson was learned during the recession, it was the value of the workforce being employed. As rosters shrank, it became vital to assess the importance of employees. This trend looks to be continuing beyond the recession, which means greater investment in talent management technology.

This entry was posted on Thursday, July 1st, 2010 at 11:23 am and is filed under Uncategorized. You can leave a response, or trackback from your own site.

About the Author: John is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.