Connect with us

Hi, what are you looking for?

Business

Uncertainty at work: HR hiring freezes and rescinding job offers

We are seeing economic shifts driving some companies to downsize their workforces.

People travelling on the Elizabeth Line in London. Image: Tim Sandle
People travelling on the Elizabeth Line in London. Image: Tim Sandle

New data, from a survey commissioned by the company 15Five reveals that Human Resources (HR) leaders are still receiving concerns expressed from their employees about work-life balance. One challenge for employees and HR leaders alike is that downtime is summarily ignored, could this be a result of remote and hybrid work breaking down boundaries? Uncertainty permeates through the workplace.

This finding comes after a recent study highlights that many employees say work friendships are harder to forge and less of a priority when working remotely. 15Five research reveals employees are still in search of better pay, work-life balance and more downtime

Furthermore, work-life balance is a top concern for employees, behind only pay and health benefits. When HR leaders were asked what was most important to their employees, work-life balance jumped to the top spot (64.6 percent), followed by health benefits (62.8 percent) and growth opportunities (54.6 percent).

Today remote workers are facing even more problems with large companies announcing new layoffs almost daily.

The report also establishes that attrition rates (or exit rates) will likely slow but not stop due to the potential downturn. While most employees (56 percent) said economic factors would influence their decision to leave, nearly one-third of employees are still planning or considering quitting in the next six to 12 months. However, the risk that fewer jobs may be available did not alter the number.

15Five conducted a survey of 1,000 full-time employees and 500 HR leaders. This investigation finds that most employees (56 percent) said economic factors would influence their decision to leave and nearly one-third of employees are still planning or considering quitting in the next six to 12 months.

In addition, and troubling for workers, is that the data reveals that nearly one in five HR leaders say that plan on implementing layoffs.

According to Jennie Yang, VP of People & Culture at 15Five: “We are seeing economic shifts driving some companies to downsize their workforces, especially in the tech sector, while other businesses are still dealing with high attrition and difficulty hiring in a competitive labor market.”

Yang adds: “But no matter the state of the economy or talent market, it’s vital to first gather data on employee sentiment and performance and then take action. Tech solutions can help HR leaders to identify top performers and then equip managers to bolster employee engagement, productivity and morale.”

Avatar photo
Written By

Dr. Tim Sandle is Digital Journal's Editor-at-Large for science news. Tim specializes in science, technology, environmental, business, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.

You may also like:

Business

The naysayers said the maddening multicoloured cube that Erno Rubik invented 50 years ago would not survive the 1980s.

Tech & Science

The explosive growth of generative AI has sparked fears about its safety - Copyright AFP/File Stefani REYNOLDSSouth Korea and Britain kick off a major...

Business

The US Feds should keep interest rates at their current elevated levels for longer than previously expected due to disappointing inflation data.

Entertainment

“People who are displaced have a voice, they have a story,” said the Oscar-winning actor at a talk at the Cannes Film Festival.