More than half of employers (51%) experienced a turnover rate of at least 15% in 2022, up three points from 48% in 2021. Employee retention became the number one priority for both operations (51%) and HR (66%) this year, according to Gallagher’s 2023 U.S. Organizational Wellbeing Report. The Gallagher report examines how employers are adjusting compensation and benefits to improve retention rates.
The Gallagher study, which draws data and insights from more than 4,000 organizations across the U.S., identifies current and emerging trends with the goal of helping employers optimize the well-being of their organization as a whole through organizational strategy; diversity, equity, and inclusion (DEI); HR technology; and health care cost control.
Key findings include:
- Wisconsin employees crave expanded benefits: overall, 39% of employers upgraded their well-being initiatives.
- Wisconsin employers expect increased health care premiums for employees: Four in five employers believe that a moderate (70%) or significant (10%) rise in health care costs is likely this year.Â
- Leaders — not just HR personnel — must be accountable for DEI initiatives: Thirty percent of Wisconsin employers include DEI oversight as a leadership accountability measure.
