Recap: The Future of People Spend Webinar with BOON Co-Founder Chris Henrichs

There’s nothing futuristic about HR leaders managing their workforce on a tight budget. It’s truly a tale as old as time (or at least as old as the HR field itself). But in this constantly changing economic environment, HR and Finance leaders alike have to find ways to invest in people while managing budget constraints. Finding creative ways to balance the budget while keeping top talent happy.

The recent webinar, The Future of People Spend: Balancing Budget, Benefits, and Growth, hosted by Haris Ikram, Co-Founder & CEO of CandorIQ, and Chris Henrichs, Co-Founder & Head of Partnerships at Boon, tackled this challenge head-on. Their conversation explored how organizations can optimize workforce spend while maintaining employee engagement and business growth.

You can (and should!) watch the full webinar here, but I’ll give you my summary below just in case.

The Challenge: Managing People Spend in Today’s Economy

As budgets tighten, HR teams face heightened scrutiny over their investments. Chris highlighted that every dollar spent—whether on compensation, benefits, or development—must be justified with measurable impact. Despite financial pressures, employee expectations remain high, and organizations need to provide opportunities for growth, recognition, and career development to retain talent.

Haris and Chris emphasized that compensation alone isn’t enough to drive engagement. A holistic approach, including leadership development, coaching, and internal mobility, ensures that investments in people yield long-term benefits. HR-Finance collaboration plays a critical role here—when these teams align, companies can make smarter decisions that balance cost efficiency with talent development.

Smarter Budget Allocation: Balancing Headcount & Employee Development

Traditionally, companies have prioritized headcount growth as a means to scale. However, Chris explained that this mindset is shifting. Rather than focusing solely on hiring, companies are recognizing the value of investing in their existing workforce.

One of the biggest challenges HR leaders face is promoting individual contributors to management roles without providing them with the necessary tools to succeed. Leadership development and coaching offer a strong return on investment, improving retention, productivity, and internal mobility. Haris noted that workforce planning isn’t just about budgeting for headcount—it’s about setting employees up to achieve key goals and KPIs. Companies that embrace this approach can build leaner, more effective teams that drive business success.

The Role of AI & Technology in Optimizing People Spend

AI is transforming workforce planning and compensation strategies. Both men highlighted how AI-driven insights can help HR teams allocate resources more effectively, ensuring fair and competitive pay while staying within budget constraints.

Predictive analytics allow organizations to anticipate employee turnover, identify skill gaps, and take proactive steps to retain top talent. AI-powered coaching platforms, for example, can personalize development plans at scale, giving employees the support they need without overwhelming HR teams. Haris emphasized that the key to AI’s success is having the right data inputs. The future of AI in HR lies in providing tailored insights based on an employee’s role, skills, and career trajectory.

Key Takeaways: Strategic People Spend for Long-Term Success

The webinar concluded with a few critical insights for HR leaders:

• Balance headcount, compensation, and development to maximize workforce investment.
• Investing in leadership development and coaching strengthens retention and engagement.
• Leverage AI and technology to optimize workforce planning and compensation decisions.
• Collaboration between HR and Finance ensures that talent investments align with business growth.

Chris closed the discussion by emphasizing that companies don’t need to choose between budget constraints and employee development. The most successful organizations find ways to spend strategically—investing in talent through leadership programs, coaching, and internal mobility rather than relying solely on salary adjustments.

Haris wrapped up by reinforcing the importance of the CFO-CHRO-CEO partnership in making workforce decisions that benefit the entire organization. By aligning priorities, leveraging AI-driven insights, and investing in people holistically, companies can build resilient, high-performing teams that thrive even in uncertain economic conditions.