Tariff turmoil. Immigration challenges. Thousands of government layoffs. Many of the White House’s actions have spurred a new round of volatility at corporate America’s workplaces. Approximately 35% of the nation’s HR leaders expect the policies coming out of Washington to negatively impact their workforce, according to a survey from The Conference Board. Despite these concerns, a recent poll finds that 73% are confident in their ability to lead through the seismic shifts in today’s political, social, and regulatory landscapes.
“After navigating the pandemic and other recent economic and social shocks, HR chiefs believe that both they and their organizations have developed the adaptability to weather immense uncertainty,” says Robin Erickson, PhD, head of human capital research at The Conference Board. “While the new policy agenda may exacerbate labor and skills shortages, business leaders can create contingency plans for potential workforce disruptions.”
The study also finds that HR leaders may be proactively managing costs in anticipation of greater economic headwinds: 41% implemented layoffs in the past six months, up from 30% in 2024.
Insights from the report include the following.
- Just 5% of HR leaders expect the Trump administration’s policies to have a positive impact on their workforce, while 35% expect a negative impact, 29% anticipate no impact, and 31% are uncertain.
- Following several years of societal shocks, HR leaders think they can navigate the current volatility. Nearly three quarters (73%) are confident or very confident in their ability to manage change, while just 3% are not confident at all.
- Layoffs and other cost-cutting measures gain steam amid heightened economic uncertainty. The share of companies conducting layoffs in the prior six months went from 30% in 2024 to 41% in 2025. Organizations that expect a positive business impact from the administration’s policies still implemented cost-saving measures.
- Hybrid work has become the norm. It is the primary workplace arrangement at 57% of organizations, up from 40% in 2024. Fully on-site work (32%) and fully remote work (12%) both decreased year-over-year (from 44% in 16% in 2024, respectively). Mandated policies are at the highest level in the last three years at 56%. Organizations without a mandated policy declined from 12% two years ago to just 5% in 2025.
- Whether it’s hybrid or fully on-site, any type of mandate drives workers away. Nearly half (44%) of HR leaders with mandated on-site work policies say they struggle to retain workers, compared to only 34% of HR leaders without a mandate.
- HR leaders report a significant uptick in difficulty finding qualified professional and office workers (62%), up from 47% in 2024. Difficulty finding qualified industry and manual service workers is steady year-over-year, at 64%.
- The challenge of retaining professional and office workers is easing (32%), while difficulty keeping industry and manual services workers is rising (56%).
- Despite the current volatility, workers are generally positive about their employee experience. Surveyed workers report high engagement (63%), intent to stay (53%), and sense of belonging (51%).
- Leader perceptions of employee experience do not align with workers’ reported experiences. While workers generally report feeling positive about their experience, 48% of workers report high well-being compared to 23% of HR leaders who believe their employees are experiencing high well-being (a 25% gap).
“The gap between leaders and employees in their perceptions of well-being is troubling, pointing to a significant disconnect in how well-being is understood, observed, or supported. Having a more accurate, nuanced understanding of the worker experience grounded in regular and candid worker feedback can help ensure that efforts to improve workplace culture and performance are both relevant and effective,” says Diana Scott, human capital center leader at The Conference Board.
