50% of executives plan layoffs as healthcare looks to rehire

A new survey of U.S. executives across numerous sectors finds contradictory sentiments on talent and labor management, with half of respondents indicating they have plans to reduce headcount as more than one-third see talent acquisition and retention as a serious business risk.

For its second Pulse Survey of the year, PwC surveyed 722 executives from public and private companies in six sectors, with health industries representing 7 percent of respondents. The survey was conducted between Aug. 1-5.

Layoffs and workforce constrictions 

Executives indicated they are taking steps to reorganize their workforce and ensure they have the right talent and skills. PwC noted constriction is more prevalent in certain industries, such as technology, media and telecommunications, which are more likely to invest in automation. Healthcare is more focused on rehiring employees who recently left.

  • 50 percent of respondents are reducing overall headcount
  • 46 percent are eliminating or reducing signing bonuses 
  • 44 percent are rescinding job offers 

Hiring and talent acquisition 

Thirty-eight percent of respondents cite talent acquisition as a serious business risk. Executives are seeking new ways to attract talent. PwC notes that even as more companies turn toward automation, companies still seek talent with the right mix of deep functional knowledge and technology experience to ensure automation delivers on efficiencies. 

  • 70 percent of respondents have either implemented expansion of remote work options or have a plan to do so in place
  • 52 percent of executives are considering an acquisition to expand access to talent
  • 59 percent are customizing their HR strategy by employee type

Find the survey results in full here

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