HRdownloads Blog

Paying the Price: Justifying HR Costs When Resources Are Tight

Posted by HRdownloads on Aug 12, 2020 2:15:00 PM

For many organizations, budgets are tight. Some have lost major revenue sources, others had to rapidly spend money on new health and safety measures, and some might have made major capital investments to develop new products and services or modify existing offerings. All of these changes to budgets mean most organizations are looking for ways to cut costs, and if your HR function still has an internal reputation as a ‘cost centre’, it can swiftly find itself a target for reductions in staff, programs, services, and tools. But while HR can look like an easy place to save money, many organizations are discovering they need HR now more than ever.

During a crisis, long-term thinking becomes tougher. The present demands our attention, and short-term solutions begin to make sense, while their long-term consequences go undiscussed and unconsidered. It’s a mistake, though, to focus on the immediate crisis at the expense of future stability. As endless as this pandemic has felt, it will be over eventually, and when it is, organizations that gave thought to their post-pandemic strategies will be better positioned to recover quickly.

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Topics: Digital HR Solutions

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