HR technology spending on the rise, despite economy

Spending on HR technology is predicted to keep growing this year, according to two new studies on the state of the HR software market, as reported in a recent Workforce Management article.

The reports from Towers Perrin and AMR Research show that even during a slowing economy, sales of applications for tracking employee data, recruiting new workers and managing compensation are still growing.

Only 15% of the organizations surveyed expect to reduce spending on HR technology, down three percent from last year.

“In recent years, HR applications have been one of the fastest-growing fields of business software. AMR Research says that in 2007, the market grew a faster-than-expected 13 percent, to $7.2 billion.”

The research firm expects the HR software to grow another 13% again during 2008.

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