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Worklife

HR Strains to Meet Needs of Companies Stressed by Inflation

February 9, 2024

Worklife

HR Strains to Meet Needs of Companies Stressed by Inflation

February 9, 2024

Photo by Elisa Ventur on Unsplash

Ninety percent of HR professionals say they take immense pride in their work, but they’re stretched thin trying to meet their organizations’ needs, according to new research from SHRM. Inflation and its impact on their employer’s budget—especially on wages and hiring—continues to be their organizations’ overriding concern.

“SHRM has found that inflation and talent shortages are still significant workplace concerns among employees and employers alike,” said Johnny C. Taylor, Jr., SHRM-SCP, SHRM president and chief executive officer.

“As these factors influence employees’ standards for their organizations, as well as employers’ administrative capabilities, we urge all members of the world of work to maintain civility in 2024 and foster a culture of mutual understanding.”

In fact, 81 percent of HR professionals said maintaining employee morale and engagement was their top priority for 2024, and nearly 60 percent think their organizations were effective or very effective in fostering a civil, respectful workplace last year.

After inflation, their organizations’ other top priorities were retaining valued employees (78 percent) and finding and recruiting job candidates with the skills their organizations seek (70 percent).

But 57 percent of HR professionals say they are working beyond normal capacity trying to realize those priorities. More than one-fourth are actively looking for another job (27 percent) or intend to pursue a job in another organization this year (28 percent). By comparison, 25 percent of other U.S. workers are actively looking for another job and 26 percent plan to do so, according to SHRM’s research.

“It appears that many HR professionals may be stressed, overworked and struggling with understaffed departments,” SHRM said in its 2023-24 SHRM State of the Workplace Report released Feb. 8.

The findings are from a survey of 2,028 HR professionals—22 percent of whom are HR executives—and 599 U.S. workers. Surveys were conducted the first week of November.

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Read full article here

90% of HR professionals say they take immense pride in their work, but they’re stretched thin trying to meet their organizations’ needs.
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