Press release
Hackett: 2023 HR Key Issues Research Finds Troubling Disconnect Between Critical Priorities and the Ability to Execute Improvements
MIAMI & LONDON--(BUSINESS WIRE)-- There’s a troubling disconnect between human resources (HR) organizations’ priorities for 2023 and their ability to make
About this update from The Hackett Group, Inc.
[{"type":"text","content":" MIAMI & LONDON--(BUSINESS WIRE)--\nThere’s a troubling disconnect between human resources (HR) organizations’ priorities for 2023 and their ability to make improvements, according to new HR Key Issues research from The Hackett Group, Inc. (NASDAQ: HCKT).\n\nSix of the 10 top HR priorities represent business and enterprise goals related to human capital, indicating that HR remains focused on its role in enabling the success of the overall enterprise. But HR executives do not consider any of the top 10 priorities to be well supported or sufficiently funded, The Hackett Group® found. In fact, the top seven objectives are all critical development areas – priorities of high importance but for which confidence in the ability to deliver is mixed. In most cases HR organizations also do not have improvement initiatives planned in 2023 to address their cited priorities, indicating a potential mismatch between priorities and investments of resources.\n\nThe research revealed that developing executives who can lead effectively in a changing business environment is the top priority for HR in 2023. Recruiting and retention and enabling growth both remain high priorities for 2023, while acting as a strategic advisor and creating/maintaining a high-performing culture fill out the list of top five priorities.\n\nIn addition, HR leaders face increasing productivity and efficiency gaps, with workload expected to increase by 10.5% and only minimal increases in staffing and budgets, the research found. Growth in HR tech spending is also expected to slow to just 1.8% in 2023, far less than last year’s 9.1% projected increase, which will make it more challenging for HR to rely on technology to close efficiency gaps. At the same time, HR technology adoption is expected to grow in 2023. Cloud-based core human capital management suites have become pervasive and successful, as have process management/workflow tools and HR point solutions.\n\nWhile improving insight is key to an HR organization’s ability to anticipate shifts in demand, supply of skills, and changes in the labor market, the research found that most lack effective strategic workforce planning capabilities. Small-scale deployments of advanced analytics, data visualization and master data management are the norm, with less than 20% of all HR organizations reporting large-scale implementations...