Q3 CHRO Economic Outlook: Uncertainty Remains Even as Outlook Rebounds
After a sharp shift toward pessimism in Q2, HR executives are now showing a more balanced economic outlook. Fewer leaders rate current conditions as poor or very poor, and positive ratings have returned to Q1 2025 levels. While this shift suggests a cooling of last quarter's intense concerns, the large swings in the past two quarters indicate feelings of uncertainty among HR executives.
This episode of People + Strategy is part of the November CHRO alignment series, where we talk to leaders about the executive connection. Former Mastercard chief people officer Michael Fraccaro reveals what makes a strong relationship between a CHRO and the board.
The most effective C-suites are powered by leaders who collaborate seamlessly across boundaries. The Fall 2025 edition of the People + Strategy journal highlights the strategies CHROs use today to effectively strengthen connections with their CEO, CFO, CIO, and boards to drive influence, shape strategy, and transform the workplace.
HR executives continue to navigate an uncertain employment landscape in Q3, even as some expectations have rebounded slightly from Q2 2025 lows. In this environment, HR leaders must stay focused on high-impact strategies such as reskilling, performance optimization, and retention, while maintaining clear communication and thoughtful planning to support employee morale.
EN:Insights Forum
Join the SHRM Executive Network on Wednesday, Nov. 19, at noon ET for an exclusive discussion on SHRM’s CHRO Business Outlook — a quarterly research program that captures HR executives’ perspectives on current and future employment and economic conditions. This session offers a unique opportunity to reflect on how the landscape has evolved over the past three years and gain forward-looking insights into what HR leaders expect in 2026. Key findings, including trends from SHRM’s Hiring Difficulty Index and Retention Difficulty Index, will be explored to help HR leaders anticipate challenges, seize emerging opportunities, and strengthen strategic workforce planning for the year ahead.
Speaker
As Executive Vice President and Chief People Officer at Primerica Financial Services, Lisa Brown leads the company’s people strategy across U.S. and Canadian operations, overseeing HR for employees and the firm’s 151,000-person independent sales force. She provides executive oversight for engagement strategies within Primerica’s five Strategic Markets: African American, Hispanic American, Asian Pacific Islander, Women in Primerica, and Partnerships.
With over 30 years of global HR and leadership experience, Brown is recognized for driving business growth, transforming workplace culture, and fostering positive employee relations. Her expertise encompasses mergers and acquisitions, startups, labor campaigns, and strategic advisory to C-suite executives.
Brown serves on the Broad College of Business Alumni Advisory Board at Michigan State University and the Cool Girls Inc. Advisory Board, and she is a board director for Junior Achievement of Georgia. Additionally, she is an active member of Delta Sigma Theta Sorority Inc.
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Trends & Thought Leadership
This data brief introduces new labor shortage measures that incorporate the idea that occupations in demand at any given point in time may not align with the occupational experience of unemployed job seekers. By incorporating this “occupational mismatch” barrier, these new metrics demonstrate that the extent and nature of the current labor shortage is far more complex than generally assumed.
To remain competitive and drive innovation, organizations must harness the full potential of their workforce. Women, who represented nearly half of the employed population in February 2025, play a critical and transformative role in today’s labor market. This research report highlights seven key realities shaping women’s experiences at work, and offers actionable guidance.
Since 1948, the number of Americans ages 65 and older has increased by 457%, exponentially more than any other age group, according to the U.S. Bureau of Labor Statistics (BLS). Workers 65 and older are now the fastest-growing segment of the U.S. workforce, making it essential for HR professionals to understand the dynamics of this growing talent pool.
This research explores L&D executives’ top priorities for workforce and leadership development in the year ahead, the challenges they face, and their expectations for the evolving L&D and workplace landscape. This research sheds light on how these leaders are addressing skills gaps and building forward-thinking strategies to prepare their organizations for the future.
Upcoming In-Person Experiences
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ENX | June 15-17, 2026
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September 23-25, 2026
Indianapolis, IN
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November 15 – 18, 2026
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The SHRM Linkage Institute equips high-potential leaders across industries with strategies, insights, and networks to accelerate growth and drive measurable business impact. Join the exclusive Executive Network member experience at the SHRM Linkage Institute.