2025 Business Trends Survey Points to Increased Optimism

By Mary Lynn Fayoumi, CAE, SPHR, SHRM-SCP, President & CEO
Published December 3, 2024

According to results recently published in the Employer Associations of America’s National Business Trends Survey 2025, employers around the country are feeling optimistic about the economy heading into the new year. 

1,024 organizations participated in this year’s survey. 22% are Illinois employers. Nationally, 78% expect the economy will improve or stay the same in 2025, which is up from 67% last year. Employers in Illinois are even more enthusiastic about the year to come with 83.5% reporting a belief in a stable or better economic environment. 

Despite this bright economic outlook, the survey identified three primary challenges for employers: talent acquisition; talent retention; and the ability to pay competitive wages.

These critical issues are not new to organizational leaders who have been struggling for several years to attract, retain, and compensate talent. In Illinois, it continues to be especially difficult to recruit and retain professional (non-management) staff. 84% of survey respondents face a lack of qualified candidates for open positions, and 60% of job seekers are looking for higher pay and better benefits than they’re being offered. 

Prospective employees prefer to work for organizations that provide competitive pay, flexible work hours, and the opportunity to maintain work/life balance. To compete effectively in today’s marketplace, many organizations are increasing starting salaries for open positions and adjusting pay ranges to boost pay rates for current employees. Providing existing staff with additional training and development opportunities is another strategy being used to boost retention, especially for difficult-to-fill positions. Supporting employee growth is a proven approach for developing future leaders which was also cited as a serious long-term concern. 

In addition to the challenges related directly to talent, leaders are also focused on the impact of inflation and cybersecurity on their businesses. While both topics are in the national spotlight, there is a concerning disconnect in the survey results: Only 23 percent of businesses plan to invest in data security in 2025. This statistic may warrant further investigation by leaders and their risk management advisors. 

As always, this annual survey provides critical insights by providing current data on the overall business climate and economic trends impacting the workplace. The survey’s diverse participants represent a wide range of industries and organizations of all sizes. 

I encourage you to review the results with your leadership team to get a comprehensive view of the business trends shaping the American economy and how they impact your own organization. If you have any questions or would like support from HR Source, contact us at 800-448-4584 or info@hrsource.org. 

Have you noticed any positive trends emerging within your organization? Share your thoughts on the 2025 business outlook in the All Members Community on HR Exchange.