HR Departments to Increase Budgets in 2010

January 28, 2010 – Human resource buyers plan to increase their budgets by 25 percent in 2010 for corporate social networking tools, employee wellness programs, management and leadership development initiatives, performance management systems, and other training and development programs. The positive forecast was outlined in HRmarketer.com's latest report, “HR Buyers' Behavior: What to Expect in 2010.” The fourth annual survey is part of an ongoing “Trends in HR Marketing” report series from the marketing software and services firm. Thirty-one percent of HR professionals report their company will hire 10 to 20 percent more staff in 2010, while 45 percent of HR buyers are “somewhat optimistic” about the economy and think that business is starting to improve in 2010. Key “pain points” for HR in 2010 include assessments and selection, talent management systems, coaching and mentoring, corporate social networking, I-9 compliance, employee self-service, and work-life programs. HR buyer participation in social media and the consumption of social media content such as blogs, social networking sites, white papers, research reports, podcasts and webcasts continues to increase. “In an economic year as dismal as 2009 was, it's hopeful to hear that HR buyers are more optimistic about 2010,” says Kevin W. Grossman, president of HRmarketer.com. “Having an online presence and participating in social media are more important than ever for HR suppliers, because that's where more buyers are participating.”