2024 Talent and Workplace Survey Report

2024 REPORT

A New Generation of Talent

Our second annual Guilford County Talent & Workplace Survey, completed by 474 participants, reveals a significant shift in our workforce. With Gen Z employees now surpassing Baby Boomers, we recognize the urgency to adapt our strategies to attract and retain emerging talent.

This year’s survey highlights the need for enhanced hiring practices, investment in internal training and workplace benefits that support a diverse and evolving workforce. By prioritizing these initiatives, we can create a thriving environment where both employers and employees flourish.

Our goal is to build a community that offers an exceptional quality of life and abundant opportunities for all. Let’s continue to collaborate and make Guilford County an even more attractive place to live and work. Together, we can shape a prosperous future for everyone in our community.

Cecelia Thompson Executive Director, Action Greensboro

Benchmarking Process

In comparing year-over-year talent and workplace trends, benchmarking serves as a crucial process. This involves analyzing key metrics and performance indicators from 2023 and 2024 to identify areas of improvement or divergence.

Purpose

The Guilford County Talent & Workplace Survey Report is offered as a trusted source of data on industry, talent, and workplace trends. The report provides the outlook and perspective of hiring organizations operating in Guilford County. The online survey captures insights on the industry and talent landscape of the Triad.

The Guilford County Talent and Workplace Survey seeks to inform the efforts of community stakeholders, policymakers, and employers as we look to strengthen our talent pipeline.

Objectives

• Better understand Guilford County’s 2024 workplace landscape

• Better understand the hiring needs of our region’s employers

• Better understand the essential skills for today’s local workforce

• Inform and connect regional stakeholders and policymakers with current talent and workplace information

Key Findings Section 01

Survey Highlights

Talent

17%

is the average turnover rate for Guilford County companies.

Workplace

Pay Rate

continues to top the list for reasons a candidate declines an offer.

Top 3 85%

benefits offered to employers include health insurance, paid time off, and dental insurance.

Outlook

<50%

of local employers recruit from Guilford County universities, colleges, and community colleges.

57% of local organizations recruit talent primarily in Guilford County. of respondents indicate they hire interns.

The top three drivers for turnover are:

97% 94% of respondents did not indicate that Guilford County’s community amenities were a factor in declining a job offer. of local employers provide some internal or external opportunity for employee training and skill development. of new hires hold either a college or university degree. 46%

Companies are getting more tactical in strategies to retain talent. Between the 2023 and 2024 survey, “offering flexible work schedules” replaced “improving work/life balance” when asked about efforts to reduce turnover.

Local employers continue to rely on the following to source talent:

• Word of Mouth

• Social Media

• Job Aggregator Sites

The most essential skills for today’s new hires:

• Critical Thinking

• Verbal Communication

• Teamwork

The most difficult skills to find in new hires:

• Critical Thinking

• Professionalism

• Adaptability/Resilience

About Survey Respondents

474 Respondents Participated

of respondents’ organizations are headquartered in Guilford County.

76% of respondents represent organizations with fewer than 250 employees in Guilford County. 77% of respondents’ local workforce is permanent staff. 78% of respondents participated in a hiring process in the last 12 months.

Top Management (CEO, CFO, COO, Owner/Operator)

Mid-Level Leader/Manager (Department Head, Director, Area Manager)

HR Manager/Director/Senior Business Partner

Respondent Business/Organization Profiles

Organizational Size in Guilford County

<10 Employees

Employees

Employees

Employees

Employees

Company Size Globally

Annual Revenue of For-Profit Responding Organizations

Average Operating Budget of Nonprofit Responding Organizations

Companies With Local Headquarters Current Growth

Respondants expect on average:

over the next 12 months.

growth over the next several years.

Of responding organizations headquartered in Guilford County, 22% are professional services, 22% are nonprofit, 11% are education, 11% are government, 7% are manufacturing, and 5% are healthcare.

Employee Turnover

In 2024, Guilford County respondents indicated an average 17% annual turnover rate.

67%

of respondents use a formal exit interview process to help understand turnover.

3% decrease YoY

Excluding “Found a Position Elsewhere” and “Involuntary Turnover,” the following reasons for turnover stand out among industry sectors:

The top reasons for turnover for nonprofits including healthcare, education, and government are retirement (41%), low pay (37%), and family reasons (33%)

The top turnover reasons for manufacturing including aerospace, automotive, aviation, bioscience, chemicals and advanced materials, food processing, and furniture are low pay (33%), retirement (26%), and no opportunity for advancement (24%)

Top reasons for turnover within professional services including financial services, insurance, and information technology are issues with fit in the company (20%), family reasons (16%), and retirement (11%)

Top Five Efforts to Reduce Turnover

In 2024, the most cited reasons for employee turnover are:

Found a Position Elsewhere (60%)

Involuntary Turnover (31%)

Retirement (24%)

Family Reasons (22%)

Low Pay (19%)

In 2023, “improving work/ life balance” was among the top 5 efforts but has been replaced by “offering flexible work schedules” in 2024.

Generations in the Workplace

Gen X (born between 1965–1980) employees occupy the largest number of roles in the Guilford County workforce, followed by Millennials (born 1981–1996).

In 2024, respondents indicate Gen Z employees outnumbered Baby Boomers in Guilford County’s workforce.

Industries with the largest number of Gen Z employees are Retail/ Restaurant, Professional Services, and Nonprofit Organizations.

Industries with the largest population of Baby Boomers are Financial Services/Insurance, Education, and Professional Services.

Workplace

Benefits

The most offered benefits provided by companies include:

• Health Benefits

• Paid Time Off

• Dental Benefits

• Vision Benefits

• Retirement Benefits

The least offered benefits in Guilford County include:

• Childcare Benefits

• Recharge Days (e.g., alternating Fridays off)

• Immigration Sponsorship/Employee/Family

• Pay Off Student Loan Debt

Most Frequently Offered Employee Benefits

Health Benefits Paid Time Off

Dental Benefits

Vision Benefits

Retirement Benefits/Matching

Training Opportunities

Published Mission and Value Statements Bonuses/Incentives

Physical Office Environment Onboarding

In 2024, respondents reported increased availability of young professionalfriendly benefits compared to 2023, with rises in hybrid work (+16%), remote work (+8%), and onboarding (+5%)

Benefits (continued)

In 2024, respondents noted a rise over 2023 in the availability of family-friendly benefits, including family leave (+14%), flex time (+9%), and parental leave (+9%) Additionally, the 2024 survey indicated a marginal decrease in childcare benefits and on-site childcare.

Friendly Workplace Benefits Provided Locally

Upskilling and Internal Workplace Mobility

On average, organizations are filling 32% of their roles with internal promotions or hires.

These skill needs are the same as those indicated in 2023 of responding organizations provide some internal or external opportunity for employee training and skill development. of respondents indicate that their organization’s annual training budget is less than $10,000

Most Critical Skill Development Needed for Today’s Workforce

Workplace and Schedules

In Guilford County, respondents indicate that the majority of their permanent employees work fulltime in person at their workplace. On average, those full-time employees working a flexible schedule are working 35 hours a week.

Internships

57% of respondents indicate they hire interns, most of whom complete their internships in the summer or on an as-needed basis throughout the year.

Corporate Community Involvement

Of respondents who reported that their organizations are engaged in the community, charitable giving and board leadership are the most frequent ways in which they engage. Paid time for voting and mentoring were among the lowest pathways for community engagement.

How Are Organizations Engaging With Guilford County

Talent Attraction and Selection

Target Candidate Market

Where respondents are recruiting by geography:

• Greensboro, NC (85%)

• Across the State of NC (48%)

• Nationally (33%)

• Globally (7%)

How Employers are Sourcing New Hires

Recruiting Budget, Timeframe, and Candidate Quality

On average, responding organizations spend 7% of their annual operating budget on talent attraction and recruitment.

Industries with the largest recruiting budgets include manufacturing, professional services, and distribution and logistics.

40% of respondents indicate it takes 1–2 months to hire for Guilford County positions.

In 2024, the average offer acceptance rate is 76%

of respondents indicate pay rate was the reason a candidate declined a job offer.

Only 3%

of respondents indicated that Guilford County’s community amenities were a factor in declining a job offer.

Recruiting Budget, Timeframe, and Candidate Quality (continued)

Employers Find the Quality of Their New Hires to Be:

These Options Best Describe the Educational Level of a Typical Guilford County Hire:

College/University

High School Diploma

Some College/ University

Associate Degree

Master’s Degree

Professional License Industry Certifications Doctoral Degree

Today’s Workplace Challenges

Open Box Text Question & Answers

1 2 3

• Finding Talent, Hiring, Growth, Funding, Employee Retention, Change, Training

• Attracting Suitable Candidates, Filling Jobs in a Timely Manner, Recruitment, Retention and Turnover, Addressing Burnout and Stress Management

• Maintenance, Engineers, Skilled Trades, Instructors, Managers, Accounting, Warehouse, Officers

Essential Skills

In 2024, the top five most essentials skills for new hires include:

#1 Professionalism/Work Ethic

#2 Verbal Communication Skills

#3 Teamwork/Collaboration

#4 Problem-Solving/Critical Thinking

#5 Interpersonal/ Relationship Building

Relationship Building has replaced Ability/Adaptability/Resilience in the top five since 2023.

In 2024, the skills most difficult to find in new hires include:

• Professionalism/Work Ethic

• Problem Solving/Critical Thinking

• Ability/Adaptability/Resilience

• Emotional Intelligence (tie)

• Negotiating/Conflict Management (tie)

• Logical/Analytical Thinking (tie)

Leadership/Personal Growth has fallen out of the top five most difficult to find skills since 2023.

New Hires: Essential Skills Needed Compared to Difficult-to-Find Skills

Professionalism/ Work Ethic

Essential Skills for New Hires Difficult Skills to Find in New Hires

Summary Section 05

Future Considerations

Significant demographic shifts in Guilford County’s workforce will require proactive strategies to address the changing landscape.

Prepare for Generational Transitions:

With Gen X (born 1965–1980) now the largest workforce cohort due to impending Baby Boomer retirements by 2030, local employers should anticipate and plan for this transition.

Our Recommendations

Tap into Local Talent

1

With thousands of new jobs projected in Guilford County, now is the time to strengthen connections with local universities, colleges, and community colleges. On-campus recruiting can help you access a vast pool of talent and streamline your hiring process in a competitive market.

Invest in Skill Development

2

While most organizations offer training, consider expanding your budget and partnering with educational institutions. This can ensure your employees have the skills they need (like communication, design thinking, and conflict resolution) to boost your company’s success.

Embrace Family-Friendly Benefits

3

Family-friendly benefits are more than just a perk — they’re a proven strategy for increased productivity and employee retention. By offering benefits like parental leave, family leave, wellness rooms, and childcare stipends, you can create a more attractive and supportive workplace.

Talent Development for Gen Z: The number of Gen Z employees in Guilford County surpassed Baby Boomers for the first time in 2024. Given that Gen Z (born 1997–2015) is projected to comprise 30% of the U.S. workforce by 2030, Guilford County employers should focus on attracting, retaining, and developing this emerging talent pool.

Responding Organizations Section 06

Thank You to All of Our Survey Participants

Including the Following Who Agreed to Be Published:

ABCO Automation

African American Art & More

Allen Industries

Allen Tate Realtors

ALT HR Partners

ALTEN Technology USA

Apartment Dynamics

AREVO Group

AssuredPartners

Autotrends

Barnabas Network/Barnabas Furniture Bank

Beat Media Inc. dba Triad City Beat

Berico

Berkshire Corporation

Bernard Robinson & Company, LLP

Big Brothers Big Sisters of the Central Piedmont

Boulton Creative

Brooks, Pierce, McLendon, Humphrey & Leonard, LLP

Brown Investment Properties

Carlton Industrial Solutions

Carolina Digital Phone, Inc.

Carolina Theatre of Greensboro

Century Products, LLC

Charles Aris, Inc.

Children & Families First

City of Greensboro

City of High Point

City Storage

Computerway Food Systems, Inc.

D.S. Miller, Inc.

Davis • Martin • Powell & Associates, Inc.

Davis Furniture

Downtown Greensboro, Inc.

Eastern Music Festival

Empanada Grill, LLC

Encompass Solutions, Inc.

Fainting Goat Spirits

Family Service of the Piedmont

Fellowship Hall

First Bank

Forge Greensboro

FORVIS, LLP

Girl Scouts Carolinas Peaks to Piedmont

Go Green Plumbing, Heating, Air & Electrical

Goodwill Industries of Central NC, Inc.

Graham Personnel Services

Grandover Resort

Greensboro Convention and Visitors Bureau

Greensboro Day School

Greensboro-High Point Marriott Airport

Greensboro Police Department

Greensboro Regional REALTORS Association

Greensboro Swarm

Guerrilla RF

Guilford College

Guilford County Government

Guilford County Partnership for Children

Guilford County Schools

Guilford Education Alliance

Guilford Technical Community College

GuilfordWorks Workforce Development Board

HAECO Americas

Home Helpers Home Care of Jamestown

Honda Aircraft Company

Housing Foundation of America, Inc.

Hudson Financial Services

JD Financial Group and Associates, Inc.

JSI Datacom

Junior Achievement of the Triad

K&S Tool and Manufacturing

Kneaded Energy

Kontoor Brands

Lindsey Architecture

Living Well, Inc.

Machine Specialties, Inc.

Natty Greene’s Brewing Co.

New Garden Landscaping & Nursery

North Carolina African Services Coalition

Our State Magazine

Parker Hannifin - Aerospace Filtration Division

Piedmont Business Capital

Piedmont Triad Airport Authority

Piedmont Triad Apartment Association

Porter & Company Accountants and Consultants, Inc.

Precor, Inc.

ProAmpac

Procter & Gamble

PulmonIx Research, LLC

PwC

Quaintance-Weaver Restaurants and Hotels

Reading Connections

Richardson Properties, LLC

RLF Communications

Robert Half

ROCS Grad Staffing

Scott Insurance

shift_ed

Signature Wealth Strategies

Smith Leonard PLLC

Sport Clips Haircuts

St. Johns Packaging

Susan Hunt Law

Syngenta Crop Protection

Terminix Triad

The Arts Council of Greater Greensboro

The Community Foundation of Greater Greensboro

The Education Collective: Legacy Academy GSO

The Longleaf Network

The Resource

Thomas Enterprises of Greensboro

Thompson Traders

Top Tier Producers, LLC

Torres Transformations, LLC

Toyota Battery Manufacturing

North Carolina

Triad Adult and Pediatric Medicine, Inc.

Truliant Federal Credit Union

Turning Everything Around

United Maintenance Group

United Way of Greater Greensboro

Unity in Greensboro

University of North Carolina at Greensboro

VF Corporation

Visit High Point

Well-Spring Group

WithIt, Inc.

YMCA of Greensboro

ZIEHL-ABEGG

Thank You!

Thank You to the Local Organizations Who Supported Survey Distribution:

Business High Point

Greensboro Chamber of Commerce

Guilford Nonprofit Consortium

Guilford Merchants Association

Human Resource Management Association of Greensboro (HRMAG)

Thank You to Our Research Partner:

Madelynn Stackhouse, Stackhouse Management Solutions

Special Thanks to Action Greensboro’s Supporting Foundations:

The Cemala Foundation

The Community Foundation of Greater Greensboro

The Cone Health Foundation

The Edward M. Armfield, Sr. Foundation

The Joseph M. Bryan Foundation

The Stanley & Dorothy Frank Family Foundation

The Tannenbaum-Sternberger Foundation

The Phillips Foundation

Think Greensboro! Get Engaged in Our Talent Programs!

Campus Greensboro

Greensboro’s ability to grow, retain, and attract a welleducated and skilled workforce is essential in today’s knowledge-based economy. Campus Greensboro improves connections between talented college students and our business and leadership community and works to prepare these students for the 21st century workforce.

For more information, contact Mary-Helen Kolousek, Campus Greensboro Student Engagement Manager at mkolousek@actiongreensboro.org campusgreensboro.org

Boomerang Greensboro

Boomerang Greensboro is a creative and ambitious campaign aimed at recruiting young professionals back home to live in Greensboro. Boomerangs are people who grew up in Greensboro or attended a local college and then moved back after spending time away.

For more information, contact Cecelia Thompson, Executive Director of Action Greensboro at cthompson@actiongreensboro.org boomeranggso.com

synerG Young Professionals Guilford Talent and Workforce Guide

synerG is a thriving network that gives the city’s young professional community opportunties to strengthen their leadership skills, promote diversity and accessibility, and shape the future of Greensboro for the better.

For more information, contact Sarah McGuire, synerG Young Professionals Director at smcguire@actiongreensboro.org synerG.org

The Guilford Talent and Workforce Guide provides a directory of area resources that support our labor market at all stages of employee development. Use it to grow your team or find ways to more deeply engage the workforce you already have. Each organization includes a direct contact to deliver help quickly and answer any questions you may have.

For more information, contact Melissa Smith, Director of Workforce Development Solutions, Chamber of Commerce at msmith@greensboro.org greensboro.org/workforce

For other talent development questions and solutions, contact Bramley Crisco, Director of Talent Development, at bcrisco@actiongreensboro.org