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The 5 Questions We Bet the C-Suite Will Ask HR Leaders in 2024

The 5 Questions We Bet the C-Suite Will Ask HR Leaders in 2024
Posted on Thursday, February 1, 2024 by Benefex

Enjoy this featured content from our partner, Benefex.

Get proactive and prepare for the questions that your C-Suite is sure to ask

As an HR and Benefits leader, you have a lot on your plate. You’re chasing ever-moving goalposts as employee expectations evolve. You may also be responsible for a total rewards and benefits strategy that promises to attract, engage, and retain talented people. You’re probably also tasked to help the organization achieve its ESG and DEIB goals, support employee well-being, and build a positive culture while implementing new systems. And you’re expected to accomplish all this with limited time and resources. Does that long list sound familiar?

According to Benefex’s data, 85% of employees say that their employee experience at work is more important now than a year ago. With employee expectations evolving so rapidly, it can be difficult for organizations to keep up. As well as tackling the most pressing challenges today, you’ve got to keep one eye on the future to predict where employee needs will go next.  

As you set your 2024 strategy, here are 5 questions that will likely come up in future leadership conversations:

  1. How is AI supporting the organization’s efficiency?  

AI was the most common topic of conversation at every industry conference this year, including our own Benefex Forum. And it’s not surprising considering the release of hundreds of AI tools in the last year, most notably ChatGPT. A recent Gartner report shows that 81% of HR leaders have already explored or implemented solutions to improve efficiency within their organizations, and there is increasing hype around how AI can support productivity. In the year ahead, we’ll see even more new use cases emerge—such as faster content generation, simplified reporting, and decision support. 

  1. How can we achieve our well-being goals?  

Although wellbeing is one facet of how employers assess their employee experience, developing and executing a wellbeing strategy that delivers meaningful and measurable impact is another thing—especially as expectations grow. Organizations are held back by a lack of data and insight, they’re struggling with low engagement, and finding that their existing solutions aren’t catering to the diverse needs of their employees.  

  1. How can we ‘do more with less?’ 

Despite most employers increasing their investment in the employee experience, employee expectations are still outpacing the scope of reward budgets. So, ‘doing more with less’ is a theme that continues to crop up as HR and reward leaders look to drive more from their existing programs and budgets—and save time and resources with the help of technology. From using technology to cut administration burden, to optimizing existing benefits spend, it’s become necessary to get creative with your resources and stretch budgets further.  

  1. What can we do to make benefits more sustainable for our people?  

Companies’ ESG credentials are becoming increasingly important to attract, motivate, and keep the best people. When choosing an employer, 55% of employees are looking for high ethical standards, and 45% want to see a commitment to sustainability, according to the Benefex 2023 Evolution Report

With employees looking for organizations that align with their own values, reward directors are in a unique position to highlight their company’s ESG initiatives, through employee benefits. We’ve seen a trend in our customers prioritizing ESG and DEIB by putting values and purpose at the heart of their reward strategy.    

  1. Are our benefits meeting the needs of our population? 

The link between benefits provision and employee attraction, engagement, and productivity is clear. Reward leaders are already moving beyond the annual enrollment stats as the defining KPIs; elevating employee benefits out of the once-a-year event and turning them into an everyday resource for employees, and an everyday part of the EVP for employers. However, the challenge for benefits and reward leaders is to navigate the data challenges they’re facing and understand if their benefits program is having the intended impact, so they have a chance to act, adjust, and optimize their strategies if necessary.

Delivering on employee expectations in 2024

To help you continue to grow, innovate, and stretch your reward budget further, we’ve put together a guide that explores the answers to the five questions above. Get your copy here.  

Businessolver and Benefex work together to provide a one-of-a-kind international benefits solution for our mutual clients. Visit our Pinnacle Partners page to learn more about our partnership.