71% Of HR Leaders Opined That Attrition Has Declined In 2023 Compared To 2022: Survey
Biz Staffing Comrade has released a survey, which aims to understand the current and future state of the HR landscape, found that approximately 71% of leaders believed that attrition had declined in 2023, around 17% believed it remained at similar levels compared to 2022 while about 13% of participants believed there was an increase in attrition in 2023 compared to last year.
The survey also revealed that 59% of leaders believed that it would be selective hiring in 2023, 33% of leaders believed that it would be aggressive hiring while 7% of leaders believed that there is a pause in hiring.
According to the survey 48% of leaders believed that they are experiencing steady growth, while 20% believed that their business is maintaining a similar level as last year. Additionally, 16% of leaders believed that they are growing aggressively, while 8% perceived a decline compared to the previous year. Another 8% of leaders believed that they are currently realigning investments.
The survey also highlighted that the most important factors for candidates in deciding a role included considerations such as compensation, work-life balance, job security, advancement opportunities, learning new skills, priorities, and global exposure amongst others.
Speaking on the event, Puneet Arora, Managing Partner, Biz Staffing Comrade Pvt Ltd said, “This event offered an opportunity to gain insight from renowned industry experts and engage in meaningful dialogue with their peers. Over the years, the role of the talent acquisition function has changed considerably from a traditional number-focused inward function to a highly quality-focused outward function to achieve the organization’s broader goals. TA is now responsible for so much more within this space, from talent information to internal mobility and retention and tends to focus on long-term human resources planning.”
“Human Resource professionals navigating economic uncertainty and an ever-shifting work environment will pursue new approaches and new technologies to better develop and retain talent. Today, the success of any modern organisation depends on the success of its workforce. However, there is a persistent skills gap across industries, which has a direct impact on productivity, business growth and innovation. Hence, considering the increased focus on people capability and the asymmetric talent war in the market, the role of Talent Acquisition has become critical to organizations.” said Jasvinder Bedi, Managing Partner, Biz Staffing Comrade Pvt Ltd.
Overall, the conclave saw participation from top-notch talent acquisition and HR leaders, ensuring an intimate and engaging experience for everyone involved in this extraordinary occasion and sharing meaningful insights and perspectives on these important topics.
