Recent reports have found that most employees are choosing to stay with their employers. As the labor market becomes less worker-friendly, employees are less likely to search for new jobs.

Notably, a report from LinkedIn found that in 2024, employee attrition rates, which measure the percentage of workers that leave an organization, have fallen 26% year over year. This figure is down 37% from its peak during the “Great Reshuffle” in 2022, when employee quits set an all-time record. A recent report from software-as-a-service company Ringover also found that 4 in 5 workers are unlikely to change jobs until 2025. The results of these surveys reinforce the findings of current labor metrics, which show that fewer workers are on the move.

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Election season can be a fraught time for employers, who are often faced with the challenge of fostering a culture of open communication while ensuring a civil work environment and navigating a variety of federal, state, and local laws. Therefore, as the 2024 election approaches, it is critical for employers to understand their legal rights and responsibilities, as well as the steps they can take to prevent and mitigate political tension in the workplace. 

The following resources can support your organization’s strategy and response to political issues within the workplace:

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California Enacts PAGA Reform – On July 1, 2024, Assembly Bill 2288 and Senate Bill 92 were signed into law, significantly reforming California’s Labor Code Private Attorneys General Act of 2024 (PAGA). This reform removes an initiative from the state’s November 2024 ballot to repeal the PAGA law. The reforms apply to PAGA matters filed on or after June 19, 2024.

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According to a new report from WTW, salary budget increases are expected to drop in 2025.

• 3.9% projected salary budget increases for 2025
• 4.1% median pay increase for 2024
• 4.5% median pay increase for 2023

Although these expected wage increases have diminished since 2023, this figure remains high compared to many previous pay cycles, where 3% was common.

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Employee burnout is escalating globally, with a significant number of workers experiencing severe physical, emotional, and mental exhaustion. The 2024 Global Talent Trends report reveals that approximately 82% of employees are at risk of burnout, primarily due to financial pressures and excessive workloads.

Burnout occurs when long-term stress overwhelms employees’ ability to cope, leading to lower productivity, negative feelings, and a diminished sense of effectiveness at work. It can also result in serious health consequences, such as insomnia and heart disease. As substantial burnout levels persist, it’s important for employers to recognize the signs and implement preventive measures to create a healthier, more productive work environment.

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The Employco HR team members continue to provide expertise and serve as a valuable resource for navigating the pressing challenges facing employers today. This team fields questions each day from employers seeking answers to their HR questions. In recent months, employers have been requesting clarification or seeking guidance on benefits, the new overtime rule, Affordable Care Act (ACA) eligibility, and specific leave of absence situations. While questions surrounding these topics can vary based on locality, employer, and individual circumstances, federal agencies offer guidance that can aid employers in addressing day-to-day challenges in the workplace.

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In today’s rapidly evolving employment landscape, managers and HR professionals are crucial in shaping and driving organizational success. However, the role has become increasingly complex. By staying current on trends companies can plan for changing compliance requirements, navigate new technologies, and adapt to employee needs. This can ultimately enable your management and HR teams to contribute meaningfully to their organizations by better attracting, developing, and retaining talent; driving employee engagement; and fostering innovation.

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Rhode Island Passes Secure Choice Retirement Savings Program – On June 26, 2024, Senate Bill 2045 was signed into law, establishing a state-operated retirement savings program called Rhode Island Secure Choice. Employers who do not already offer a retirement savings plan will be required to offer workers access to the Secure Choice program, which will be administered by the Office of the General Treasurer and implemented in phases.

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On June 28, 2024, the U.S. Supreme Court issued a decision in Loper Bright Enterprises v. Raimondo and Relentless Inc. v. Department of Commerce. The Court overruled its 1984 decision in Chevron, U.S.A. Inc. v. Natural Resources Defense Council Inc., which held that courts should defer to federal agencies to interpret ambiguities and gaps in the laws that the agencies implement (known as Chevron deference).

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