I attended a seminar last week and as part of the event the speakers said the top concerns for UK Chief People Officers in 2024 and going into 2025 reflect broader changes in the workplace, legislative shifts and strategic organisational needs. Here are the four key worries apparently:
- Talent Acquisition and Retention in a Tight Labour Market: The ongoing talent shortage, especially in key sectors like technology, healthcare and finance, is a major challenge. CPOs are concerned with attracting and retaining high-quality talent, particularly as remote and hybrid work models provide more choices for employees. Offering competitive benefits, meaningful work and career development opportunities is critical to address this issue.
- Employee Well-being and Mental Health: Post-pandemic, the focus on employee well-being has only intensified. With increasing stress and burnout levels, particularly in fast-paced sectors, CPOs must implement robust mental health and well-being programmes. This includes not just addressing mental health crises, but fostering long-term engagement and productivity through well-being initiatives.
- Diversity, Equity, and Inclusion (DEI): Companies are under pressure to meet higher standards for DEI, both from a legal and cultural standpoint. CPOs are navigating how to build diverse leadership pipelines, foster an inclusive culture and ensure equitable treatment across the workforce. Achieving meaningful change in DEI often requires a holistic, data-driven approach, which is challenging to implement and measure effectively.
- Adapting to New Employment Legislation and Compliance: The UK government continues to introduce new employment regulations, from changes in flexible working laws to updates around workforce transparency and reporting requirements. CPOs are concerned with staying compliant while implementing these changes in a way that aligns with business strategy. There is particular anxiety around managing the increased scrutiny of pay transparency and worker rights, especially with new post-Brexit regulatory changes.
My take is that the first 3 are not new and are in one sense a cyclical annual event. There seemed to be a lack of benefit and reward worries at the seminar. A lack of worry around M&A growth deals activity.
Number 4 should be a worry as we face more legislation changes before this year is out.
But I am interested to hear what you think.
Are these the 4 top concerns on your shoulders?
Do you have other concerns?
Let me know as I’d like to write and share my advice to help ease your worries.
