Understanding The Increase in Importance, and Pay
More so than any other area of business, Human Resources (HR), has emerged over the last decade as the function with the most strategic value. As the economy grew through the 2010s, companies saw an increase in their talent needs, which lead to a realization of the importance of recruiting talent, as well as employee engagement and retention. Further, as the workforce has become more diverse, different methods of work and lifestyle are becoming more commonplace. HR leaders, have been navigating this and ensuring policies that benefit all employees.
This understanding has driven a significant trend of pay increase for HR managers. When looking at data from the Bureau of Labor and Statistics; from 2011 to 2019 an HR manager’s mean annual pay increased from $108,600 to $129,570. This is an increase of nearly 20%.
Amidst the COVID-19 pandemic, we do expect this trend to continue. When the lockdown began, and managers were unsure of how to proceed, everyone turned to HR. Therefore HR has taken on a whole new set of personnel concerns including: paid leave, healthcare benefits, working parents, remote engagement, and virtual interviews…all while maintaining productivity during a public health emergency.
If you are interested in how an HR Partner can help your business’s needs please reach out, or schedule a free consultation here.
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