The Conference Board's Chief Human Resources Officer (CHRO) Confidence Index It rose to 54 in the first quarter from 53 in the last quarter (A reading above 50 points reflects more positive than negative responses.) While retention and engagement expectations have improved compared to last quarter, the survey revealed that they are down compared to this time last year, indicating that Ongoing concerns about labor shortages.
The survey also reveals that companies are stepping up their efforts Mental health issues continue to affect workers across the country42% of companies surveyed plan to offer new health benefits this year.
In reality, 36% say companies are responsible for the well-being of their employees62% say they are somewhat responsible. As a result, they are increasing their focus on employee well-being.
“Taking a holistic view of worker well-being can not only improve employee engagement and productivity; But also keep your talent“This year is a major focus for both CEOs and HR directors this year,” said Diana Scott, president of the Conference Board's Center for American Human Capital.
The index, which is conducted quarterly, was launched in the first quarter of 2023 and consists of three components (recruitment, retention and engagement), as well as special questions included in each survey. Nearly 150 senior HR leaders participated in the first-quarter survey, which included additional questions about employee well-being.
For the first quarter of 2024, the index also surveyed senior human resources leaders in Employee well-being.
HR managers overwhelmingly agree that organizations They share responsibility for the well-being of their employees.
· 62% said organizations are somewhat responsible.
· 36% said that organizations are responsible.
· Only 2% said that organizations are not responsible for employee well-being.
A quarter of CHROs Increase spending on employee well-being in 2024.
· 26% said their wellness budget has increasedOr for fiscal year 2024.
· 69% said it remained the same.
· Luxury spending fell by only 5%.
Nearly half are CHROs They plan to offer new health benefitsalthough the majority continue to spend the same amount.
· 42% plan to offer new benefits this year.
· 39% do not plan to offer new features.
· 19% discuss offering new features.
Physical and mental health These are top priorities for new wellness initiatives.
Among those that offer new benefits:
· 20% offer Mental health initiatives.
· 15% presentation initiatives Physical health and fitness.
· 12% provide initiatives Financial well-being.
· 10% offers Reconciliation initiatives.
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