Gartner Reveals Best Practices to Drive HR Cost Optimization During Coronavirus
Gartner, Inc. (IT)
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Source: Business Wire
ARLINGTON, Va.--(BUSINESS WIRE)--A Gartner, Inc. survey on March 23 among approximately 160 HR leaders showed that 49% of respondents are implementing organizationwide new hiring freezes, and 41% are focused on making better use of technology. In response to the global COVID-19 pandemic, HR leaders have initialized first cost-cutting measures that aim at reducing costs both in the function as well as across the enterprise, according to Gartner, Inc.As many companies are experiencing significant declines in revenue over the last several weeks, organizations are implementing a first wave of cost-saving initiatives, such as reducing employee work hours, reducing head count, freezing hiring and/or promotions and more.“While HR leaders are being cautious about initializing cost-cutting measures, they are preparing for the possibility of needing to take stronger actions to manage costs,” said Matthias Graf, senior director analyst in the Gartner HR practice. “It is critical for HR to ta
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