HR budgets must increase to stave off recruitment crisis

HR
professionals could be in need of more investment as they brace themselves for
a recruitment crisis, according to new research.

A
survey by consultancy Huntress Search reveals that just 15 per cent of UK
companies questioned are expecting any sort of budget increase in the next six
months.

Other
findings show that 72 per cent of HR departments expect their budgets to stay
the same, while a further 13 per cent are actually forecasting a decrease
despite the worsening staff shortage situation.

Julia
Vassie, director at Huntress Search, said: "For
the last few years, the market has been very ‘client driven’, with HR managers
confident about the number of readily available candidates to call upon.

"However,
a new candidate driven marketplace has emerged and HR professionals are
beginning to experience major problems sourcing appropriate candidates,"
she said.

The
company said the average cost of sourcing a candidate through press advertising
alone has increased to nearly double compared to just eight months ago, and HR
professionals can expect tough times ahead.

"We
are seeing much lower response rates from advertising. HR budgets must increase
in order to ensure companies are fulfilling their recruitment headcount targets
effectively," the company said.

By Mike Berry

 

 

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