2012 European HR Barometer Shows That People Still Come First Despite Tough Economic Climate and Pressure on Cost Reduction

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Aon Hewitt

24 Apr, 2012, 12:53 GMT

LONDON, April 24, 2012 /PRNewswire/ --

Respondents to the Seventh European HR Barometer maintain bold human capital plans for 2012

The 7th HR Barometer study, designed and carried out for the European Club for human resources (EChr) by Aon Hewitt, the global human resources business of Aon Corporation (NYSE:AON), has revealed that Europe's HR leaders are still maintaining ambitious people development plans despite a deterioration of the economic climate and pressures on cost reduction.  

Leonardo Sforza, chair of the EChr Scientific Committee and author of the study, said:

"The slow and painful road to economic recovery is not discouraging successful multinationals from continuing to invest in their human capital and from demonstrating the belief that their people remain the most powerful engine for sustainable growth and innovation.

"The relatively high proportion of European HR leaders who plan in 2012 to create new job opportunities and learning and development programmes for their existing workforces is a positive sign.  We must hope these plans will not be undermined by a further deterioration of the economic climate"

Leonardo Sforza added:

"The combination of greater market competitiveness and volatility has reinforced the need for corporate agility and excellence in execution. With people management policies and employee engagement now fully recognised as critical factors to achieve corporate fitness, the pressure on the HR function to upgrade its business acumen and deliver more effectively against business expectation will further increase."  

The 7th European HR Barometer's results in a nutshell

  • Ambitious people plans in place despite economic uncertainty and pressure on cost reduction
  • Tough economic environment increasingly seen as an opportunity rather than a threat by HR leaders
  • HR function continues to struggle to deliver on policy execution and anticipation of future needs
  • CEO remains the top partner for HR - but trust is declining
  • HR leaders ready to be involved in tackling unemployment of young people
  • HR leaders call for a recasting and simplification of European Union labour laws


Notes to editors

About the European HR Barometer
The survey covers European trends related to:

- Recent business achievements and new prospects on results, investments and employment;

- Business drivers of the HR function and top priorities for the years ahead;

- Impact of HR activities on business performance and ways to improve it;

- Future changes foreseen by HR; and

- HR leaders' views on relevant European Union (EU) activities.

Survey participants were HR directors and HR board members from 13 different nationalities of leading companies with substantial operations in Europe. 52 organisations, 62% of which are listed companies, completed the survey. They employ more than 2.4 million people in total and generated revenues in excess of 517 billion euros.

About the European Club for human resources (EChr)
The Club was launched in 2001 by senior executives of global corporations with a European headquarter and which are market leaders in their sector of economic activity. The mission of the Club is to stimulate debates and exchange of practices on Human Resources issues. Through its studies, working groups and seminars, the Club contributes to promote a European approach to the management of HR and support the strategic role of HR executives in the management of change.

For more information, please visit: http://www.europeanclub-hr.eu

About  Aon Hewitt 

Aon Hewitt is the global leader in human resource solutions.  The company partners with organizations to solve their most complex benefits, talent and related financial challenges, and improve business performance.  Aon Hewitt designs, implements, communicates and administers a wide range of human capital, retirement, investment management, health care, compensation and talent management strategies.  With more than 29,000 professionals in 90 countries, Aon Hewitt makes the world a better place to work for clients and their employees.  For more information on Aon Hewitt, please visit http://www.aonhewitt.com.

About  Aon

Aon  Corporation (NYSE:AON) is the leading global provider of risk management, insurance  and reinsurance  brokerage, and human resources  solutions and outsourcing  services. Through its more than 61,000 colleagues worldwide, Aon  unites to empower results for clients in over 120 countries via  innovative and effective risk  and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world's best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources. Visit http://www.aon.com  for more information on Aon and http://www.aon.com/manchesterunited  to learn about Aon's global partnership and shirt sponsorship with Manchester United