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There’s More To HR Than Hiring & Firing

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The business function of hiring and firing — a component of human resources — hasn’t changed much over the years.  Companies continue to offer incentives or perks to retain the employees they have and attract the employees they want or need to maintain their competitive edge.  Those incentives have just changed over the years.  Now perks like health insurance and flexible work schedule can be a differentiating factor.

Recently, Entrepreneur Magazine compiled a running list of statistics related to the human resources function.  Issues such as diversity and gender in the workforce; maintaining a strong pool of talented and skilled employees; as well as the rise of executive compensation; continue to be discussed in the news.  While some of the data listed below is a few years old, it still shows the lasting challenges and opportunities businesses face.

83% of CEOs believe that the workforce is the single largest expense for their businesses.
–PricewaterhouseCoopers, September 2006

49% of CEOs are concerned that a shortage of qualified workers could limit the growth of their company in the year ahead.
–PricewaterhouseCoopers, September 2006

30% of executives say motivating their employees is their toughest challenge.
–The Creative Group, September 2006

35% of executives say the most important benefit of using interim workers is to help avoid overstaffing.
–Accountemps, September 2006

59% of employers believe that less than half of all candidates interviewed for a position are qualified.
–eBullpen, September 2006

49% of small business say they cannot attract and retain top quality employees without offering competitive health benefits.
–Aflac, June 2006

12% of CIOs intend to expand their IT departments in the second half of 2006.
–Robert Half Technology, March 2006

The top five reasons why new hires fail: 26% coachability, 23% emotional intelligence, 17% motivation, 15% temperamant, and 11% technical competence.
–Leadership IQ, September 2005