Dive Brief:
- Executives are more concerned about the talent shortage and low unemployment than they are about the trade wars and tariffs, economic weakness, upward wage pressure and the uncertainty produced by the U.S. 2020 elections, according to a recent Oracle NetSuite survey shared with HR Dive.
- The report noted employee satisfaction should have concerned respondents: "If employee satisfaction hasn’t been on your mind, it should be." It noted that younger workers are particularly interested in corporate responsibility, something that "isn't a top-tier priority" for many businesses. But efforts toward sustainability and corporate citizenship may attract younger workers.
- Companies funneled most of their money into payroll, the survey found. Other key spending areas included marketing, technology, sales and capital.
Dive Insight:
CEOs in a recent study by The Conference Board cited hiring challenges as their biggest worry for 2020. Company heads, along with C-suite executives, said talent acquisition and retention — and a possible recession — topped their list of concerns in the new year. The study results showed that the talent shortage has reached the top leadership in organizations and is no longer a challenge for HR alone.
Company chiefs in a LifeWorks survey cited employee well-being as a growing priority, something that didn't appear on the top 2020 priorities in the Oracle NetSuite study. CEOs in the LifeWorks poll recognized the need to build and maintain a healthy, productive workforce.
