Gallagher’s 2024 U.S. Organizational Wellbeing Report underscores retention as HR’s top priority, with 62% of organizations focusing on employee retention strategies. Despite a stabilizing turnover rate, ensuring high engagement and productivity remains a challenge influenced by macro-economic factors and evolving generational expectations.
- Retention Strategies: The report emphasizes aligning employee experiences with evolving expectations and enhancing benefits to improve retention rates.
- Emotional Wellbeing Focus: While all aspects of wellbeing (physical, emotional, career, financial) are important, emotional wellbeing, particularly mental health and social connectedness, remains a central focus for 64% of employers.
- Culture and Engagement: A strong work culture fosters community, reduces stress, and enhances employee engagement, ranking high among HR priorities for 35% of organizations.
- Managing Healthcare Costs: With healthcare costs expected to rise for 73% of employers in 2024, optimizing benefits and clearly communicating their purpose becomes crucial to controlling expenses and improving employee appreciation.
Gallagher’s insights highlight the critical importance of intentional and simplified approaches in managing employee retention, enhancing wellbeing, and controlling costs. By understanding and meeting employee needs while effectively communicating benefits, organizations can navigate challenges and foster a supportive workplace culture.
