CHROs not only see hiring remaining on course, but also expect to boost their recruitment efforts over the following six months, The Conference Board CHRO Confidence Index for the first quarter of 2023 finds. The Conference Board surveyed 172 CHROs from January 16 to February 10. The group also learned in its survey that while 45% of CHROs anticipate that more employees will remain with their current employers, 20% expect workers to leave their current jobs. Nearly half of CHROs, 45%, expect an increase in worker retention and 36% anticipate no change.
Top of mind for CHROs seeking to prioritize retention and recruitment is bolstering their workforce culture and development this year. “CHROs know the greater time and effort that is now necessary to successfully hire someone,” says Rebecca Ray, executive vice president of human capital at The Conference Board. “They are also concerned that critical talent, if not developed internally, may be difficult to find in the current labor market.”