Staff retention | This is the biggest challenge HR professionals foresee in 2024

Recruiting and retaining employees has overtaken the cost-of-living crisis as the industry’s biggest obstacle for the coming year, according to new research.

A study by employment law and HR consultancy firm, esphr by WorkNest, found that retaining staff is HR professionals’ most significant challenge for 2024.

Just over one third (36%) highlighted employee retention as their key challenge for the New Year and this was closely followed by recruiting staff members (30%).

Just over one quarter (27%) said that the cost-of-living crisis would be their main obstacle in 2024 which was a significant reduction compared to the same research undertaken last year for 2023, when 70% of HR professionals said the cost-of-living would be their biggest challenge.