More than ever, executives are looking to transform human resources (HR) from a seemingly low-priority function into a strategic part of the business. This state of the market report from TEC discusses the challenges that small to medium businesses (SMBs) face when recruiting, hiring, and managing staff. It also features information about the latest human resources information system (HRIS) offerings for the SMB market.
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care benefits was the top HR concern for organizations, and was identified as a major issue by 57 percent of the survey's respondents. Rising pension costs was also a high-level concern. While costs are expected to continue rising over the next decade, SMBs can keep these in check, by taking the appropriate actions. Some examples: changing the cost-sharing equation providing better governance over the benefits program forecasting the future by determining how costs may change (new hires, turnover, etc.)