Business 'must invest in Human Resources'

Businesses cannot afford to stop investing in Human Resources (HR) during the recession, experts have insisted.

According to the European Leadership Plan (ELP), chief executives must consider three factors in equal measure to ensure their company survives the downturn - finances, strategy and people.

Ashley Ward, founder of the organisation, said this means that businesses must invest in their workforce, as they are their "number one asset".

"Your team may not recognise the role that HR plays within the company every day but they do realise when it's lacking and their motivation wanes," he commented.

The comments came after a poll by ELP found that only five per cent of employees consider HR to be an important skill for chief executives to possess in the current economic climate.

This coincides with a separate poll by Talent2 and Ipsos Mori, which found that more than half of HR directors in the UK expect the economic situation to improve over the next year, reports HRMagazine.

Updated: 24 September 2009.
Categories: human-resources, market-and-industry-news.