Rising employee expectations challenge talent retention – U.S. survey
NORTH CAROLINA, UNITED STATES — Rising employee expectations are one of the top threats to talent retention in the United States, according to human capital management (HCM) solutions provider isolved.
Based on data from over 1,000 human resources (HR) decision-makers, the fourth-annual HR Leaders Report titled “Champions of Change” reveals that 76% of HR leaders believe that employees’ expectations are reasonable, as they deserve a good work experience.
However, meeting these expectations remains a challenge, with employee experience expectations (18%) and remote work expectations (15%) being the top concerns for HR professionals.
The absence of career growth and burnout, both at 12%, are also seen as threats to talent retention.
Employee expectations are at an all time high. What does that mean for employers, more specifically #HR leaders? We survey over 1,000 HR leaders to evaluate what people strategies they have in place, while extending their impact. ⤵️https://t.co/14iKodGZhi
— isolved (@isolvedhcm) March 6, 2024
While 95% of HR leaders are confident in their employee experiences, the report notes that 58% of employees are considering new job opportunities this year, an 11% increase from last year.
The report also highlights the need for automation technology to help HR teams manage repetitive tasks. Sixty percent of respondents stated that the time saved could be used to find a much-needed middle ground between employer and employee needs.
“Effective HR teams want to create great employee experiences,” said Amy Mosher, Chief People Officer at isolved.
“It’s not about convincing HR benefits or payroll professionals to create talent-focused experiences but rather providing them with tools to enact organizational changes effectively.”
Meanwhile, according to the Society for Human Resource Management (SHRM), U.S. companies are increasingly focused on measuring and improving the employee experience. HR professionals (46%) and workers (36%) ranked “creating a positive employee experience” as the top responsibility for HR departments.
