The Reimagined Workplace 2023: Striking a Delicate Balance
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The Reimagined Workplace 2023: Striking a Delicate Balance

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CEO Insight Minute: How Are Organizations Navigating the Rapidly Evolving Workplace?

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CEO Insight Minute: How Are Organizations Navigating the Rapidly Evolving Workplace?

To retain employees and maintain productivity, hybrid work appears to be the most fitting solution.

As organizations navigate the end of the COVID-19 public health emergency, they must contend with rising uncertainty about the long-term impacts of remote work on productivity and profitability, an economy teetering precariously between inflation and recession, and an ongoing labor shortage. Our 2023 Reimagined Workplace survey highlights the multiple competing objectives among which CHROs must strike a delicate balance.

Trusted Insights for What's Ahead™

As organizations navigate the end of the COVID-19 public health emergency, they must contend with rising uncertainty about the long-term impacts of remote work on productivity and profitability, an economy teetering precariously between inflation and recession, and an ongoing labor shortage. Our 2023 Reimagined Workplace survey highlights the multiple competing objectives among which CHROs must strike a delicate balance.

Trusted Insights for What's Ahead™

  • Hybrid and remote work arrangements persist even as organizations attempt to bring workers back full time to the workplace. Surveyed HR leaders report that 56 percent of workers continue to work a hybrid or fully remote schedule, while 73 percent of respondents report difficulty enticing workers to return to the office. In addition, 68 percent of organizations are considering or implementing strategies to increase on-site work.
  • Organizations continue to have major difficulties finding and retaining workers. A much larger percentage of organizations with mandated return to on-site work policies are experiencing difficulty retaining workers than those giving employees a choice about where to work.
  • Employee well-being continues to decline and is exacerbated by recent cost-cutting measures. A larger percentage of organizations that recently implemented cost-cutting measures such as restricted hiring; layoffs; and reduced, delayed, or eliminated merit pay increases are experiencing declines in employee well-being than those that did not recently implement cost-cutting measures.

Authors

Robin Erickson, PhD

Robin Erickson, PhD Robin Erickson, PhD

Vice President, Human Capital
The Conference Board

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Barbara J. Lombardo, PhD

Barbara J. Lombardo, PhD Barbara J. Lombardo, PhD

Distinguished Principal Research Fellow, Human Cap…
The Conference Board

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Rebecca L. Ray, PhD

Rebecca L. Ray, PhD Rebecca L. Ray, PhD

Former Executive Vice President, Human Capital
The Conference Board

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