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Recruitment and retention ‘biggest challenge facing large businesses’

Legislation and absence management are also key concerns

Recruiting and retaining talent is the biggest challenge facing large organisations, according to a poll of HR decision makers.

The survey by Group Risk Development (GRiD) also found that understanding what gaps HRs have in their knowledge is a challenge for nearly half (49%) of larger employers, while keeping on top of and complying with legislation is an issue for 47%.

Just under half of larger employers (45%) said managing HR issues, including absence management, is an issue, compared with just 23% of SMEs. 

GRiD suggested there may be a tendency to be less loyal in larger companies and for many large organisations an employee calling in sick, whether truly ill or otherwise, is less conspicuous than within a smaller organisation.

Financial concerns were also evident, with nearly a half (46%) citing growing the business and managing budgets as a challenge, and one in five citing staying afloat.

Katharine Moxham, spokesperson for GRiD, said the findings show that for larger employers, group risk products and employee benefits as whole may not be uppermost in their minds. 

“However, if deployed well, such products can really help support a business and its employees through many of their operational challenges, from providing support for absence management through to access to HR and legal advice,” she added.