investing in talent

The Top 5 Areas Businesses are Increasing Spend

In LaSalle Network’s most recent report featuring survey data from more than 250 business leaders, we share insights on how companies are navigating today’s challenging hiring landscape. Download our full Recruitment Trends & Insights report here. 

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With heightened competition in hiring and turnover rates continuing to spike, it is important leaders assess how they are investing in their workforce to best retain and attract talent.  

However, while many businesses are still recovering from the economic crisis of 2020, there may be limited resources available with which to invest. This means executives must be strategic about where and by how much they increase spend this year. 

According to LaSalle Network’s latest “Recruitment Trends & Insights” report, business leaders stated the following as the top five areas their companies plan to increase spend in 2022:  

  • 81% Employee Salaries 
  • 54% Training 
  • 52% Hiring 
  • 51% Technology 
  • 46% Employee Benefits 

Where leaders have chosen to increase company spend indicates a focus on attracting talent to their organization. In a separate LaSalle Network survey, talent identified opportunity for growth as a top quality they desire from a future employer, which aligns with the increased spend in training and development to keep candidates and talent engaged.  

When surveyed, more than one-third of businesses indicated they were adding benefits or perks in 2022, with the most common being paid time off (PTO), flexible hours, and 401(k) matching. This investment also suggests business leaders are focusing on how they can improve the lives of their employees and work to improve retention. 

Our Recruitment Trends & Insights report showcases year-over-year data comparisons from the last five years to best showcase 2022’s hiring landscape and what has evolved in comparison to former years. For information on addressing increased attrition, finding and attracting skilled workers, key workplace trends, and more, click here to download the report today.
 

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