The current unemployment rate in the U.S. holding steady at 3.6% is one bright spot for a country still reeling from the effects of a lengthy and stubborn pandemic. However, a lack of skilled labor has created numerous challenges for companies that lost some of their best talent to the "Great Resignation." With an increase in employee turnover and new positions to fill, recruiting has become one of the top priorities for HR organizations.
Even as the economy "softens" a bit, many companies continue to seek, recruit, and hire workers at a steady pace. A 2022 Hackett Group study reports that HR workloads are projected to increase by 9.3% in 2022, a big jump from a 2021 increase of 1.7%. The good news: HR technology spending will also rise more than 9% in 2022, compared to just a 0.7% increase in 2021.
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