The People, Leadership and Culture areas CEO’s are thinking about heading into 2024
Wondering what’s top of mind with c-level executives regarding people, leadership, and culture? We surveyed over 5,000 senior executives through various polls to uncover the most pressing HR issues facing leaders as we kick off 2024.
Here are their top 3 concerns right now:
#1. EMPLOYEE ENGAGEMENT
Gallup tells us that between 68% - 85% of the workforce was disengaged at any time in 2023. Of that, close to 20% were actively disengaged - feeling miserable at work and spreading negativity to their colleagues. A decline in team bonding with hybrid or remote workforces is an area of engagement leaders are still very concerned with.
#2. RISING MANAGERS / LEADERS – SUCCESSION PLANNING
52% find management and leadership shortfalls are more apparent with today’s hybrid workforce. Supervisors should be equipped with the tools necessary to manage their workforce effectively. Some managers need to want to be leaders and gain those skills as baby boomers age out.
#3. MENTAL HEALTH WELL-BEING (including burnout)
64% of workers said they're struggling with mental or behavioral health issues. A whopping 91% of these employees said they're less productive due to their mental or behavioral health issues, with 45% reporting a productivity loss of more than 5 hours a week. Executives, as well as HR professionals, are concerned about burnout and other mental health issues with not only employees, but employees' families, which impacts employees' well-being. These mental health concerns lead to absenteeism, leaves of absence and retention challenges along with general disconnect and lack of engagement.
Other HR topics on the minds of c-level leaders include:
-
Culture
-
Optimizing work
-
The role of AI/ChatGPT in things like recruitment
-
Dealing with economic impacts: Rising fixed costs like insurance, re-orgs
-
Diversity, equity, and inclusion
As today’s leaders prepare for whatever comes down the pike in their organization and/or industries, empathy and interpersonal communication skills will continue to serve them well in 2024.
If you would like to discuss strategies and services to support you with any of these listed concerns, please reach out to Isabelle Brennan, 973-917-8400.