Insperity Announces New Business Outlook Report 2024
Report provides small and midsize businesses with HR solutions for their organizational challenges
- Six in 10 survey respondents have a positive outlook about their business performance in 2024
- More than half of respondents are concerned about talent retention, culture or employee engagement
- Six in 10 respondents use remote and/or hybrid work as part of their talent strategy
“In our survey, we found that America’s best small and medium-sized businesses are optimistic about 2024,” said
The survey results include multiple noteworthy findings based on what is on the minds of business and HR leaders today. Key findings include:
- Business and HR leaders have a positive outlook for 2024. Six in 10 respondents expressed an optimistic outlook about their business’s performance in 2024, while only one in 10 expressed a concerned outlook.
- People are a priority. The most common HR concerns cited by respondents were talent retention (56%), culture (55%) and employee engagement (51%). Furthermore, three in four respondents said they were very or somewhat concerned about employees feeling less connected to their team or organization, and a similar number were somewhat or very concerned about reduced employee loyalty.
- Small and medium-sized businesses are taking steps to create an employee-centered culture. Specifically, survey respondents said they approach employee engagement and culture using onboarding processes (41%), team-building initiatives (47%), employee events outside work hours (40%) and employee surveys (30%). In addition, six out of 10 considered an open-door policy to improve employee engagement and culture, another tool to understanding employees and their concerns.
- Employers are concerned about healthcare costs. Forty-three percent of respondents said managing healthcare costs was a top HR concern, reflecting rising healthcare costs overall.
- Many businesses have yet to implement an upskilling program. Under half of respondents said they had a strategy in place to build the skills of their workforce through upskilling and training. However, another 34% said they expected to put a strategy in place but had not done so yet.
- Organizations are continuing to offer hybrid and/or remote work. Six in 10 respondents said they use remote and/or hybrid work as part of their talent strategy, which is a reflection of the major changes seen in the workplace over the past several years.
About the Survey
About
Since 1986, Insperity’s mission has been to help businesses succeed so communities prosper. Offering the most comprehensive suite of scalable HR solutions available in the marketplace,
View source version on businesswire.com: https://www.businesswire.com/news/home/20240222450994/en/
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