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Grant Thornton’s HR Leaders Survey Reveals Key Challenges and Modernization Trends

Grant Thornton’s HR Leaders Survey Reveals Key Challenges and Modernization Trends
Grant Thornton survey: HR leaders double down on attraction and retention priorities

Grant Thornton, a leading provider of audit, assurance, tax, and advisory services, has unveiled its latest HR Leaders survey. This comprehensive report provides insights into how HR leaders are addressing critical challenges, including talent retention, employee well-being, and the integration of artificial intelligence (AI) in human resources.

  1. Key HR Challenges:
    • Talent Retention: Over 70% of respondents view employee retention and attraction as major concerns, especially in industries like manufacturing and healthcare.
    • Societal Trends: The retirement of Baby Boomers and declining birth rates are expected to exacerbate these challenges long-term, according to Jennifer Morelli from Grant Thornton.
  2. Employee Well-being Focus:
    • Prioritization: 79% of respondents report that their organizations prioritize improving the employee experience.
    • Well-being Improvements: Enhancements have been made in physical (79%), mental (78%), and financial (74%) well-being over the past year.
    • Disengagement Issues: Despite these improvements, 37% of employees are still disengaged, often due to work/life balance issues. Margaret Belden emphasizes the need for HR leaders to address the work environment and support mental health proactively.
  3. AI Integration in HR:
    • Current Use: 77% of HR leaders have an AI strategy, with 60% using AI for performance reviews and chatbots to boost engagement.
    • Training and Development: AI is also used for training development, though Joe Ranzau advises maintaining human interaction in virtual onboarding to enhance the experience.
    • Concerns: Top concerns include data privacy (51%), system integration (49%), and unclear business cases (38%).
  4. Modernization Trends:
    • HR Function Overhaul: 78% of HR leaders expect their HR function to be modernized, and 83% anticipate updating their HR operating models within the next year.
    • Integrated HR Approach: Ranzau suggests a shift towards a chief employee experience officer role and an integrated HR function to meet evolving employee expectations and break down silos.

Grant Thornton’s HR Leaders survey highlights the pressing challenges HR professionals face, from talent retention to the integration of AI and modernization efforts. The findings underscore the need for strategic approaches to employee well-being and a more integrated HR function to effectively address these evolving demands.

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