GITNUX MARKETDATA REPORT 2024

HR Statistics And Trends in 2024: The Ultimate List

With sources from: .deloitte.com, shrm.org, grandviewresearch.com, pwc.com and many more

According to our research, HR professionals are navigating a dynamic landscape with diverse trends. Market Data Report provides a wealth of statistics: from rising recruitment budgets to the growing importance of HR analytics. Did you know that 81% of Millennials prioritize diversity in HR practices

Statistic 1

"65% of HR professionals say their recruitment budget has increased over the past year."

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Statistic 2

"Only 10% of companies feel confident in their HR analytics capabilities."

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Statistic 3

"The average turnover rate in the United States is 18%."

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Statistic 4

"Approximately 40% of HR professionals are using social media for recruitment."

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Statistic 5

"50% of workers cite compensation as the most important factor in job satisfaction."

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Statistic 6

"24% of HR professionals believe employee engagement and retention are the most important metrics."

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Statistic 7

"56% of companies report using AI in some form within their HR processes."

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Statistic 8

"The average cost-per-hire for companies is approximately $4,129."

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Statistic 9

"HR professionals spend about 14 hours a week on administrative tasks."

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Statistic 10

"81% of Millennials expect companies to commit to diversity and inclusion in HR practices."

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Statistic 11

"67% of HR professionals believe that technology will free up their time to focus on more strategic initiatives."

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Statistic 12

"37% of HR professionals consider employee retention to be a top workforce management challenge."

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Statistic 13

"The global HR market was valued at approximately $18.7 billion in 2021."

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Statistic 14

"Remote work options have increased by 40% in job recruitment postings within the HR sector."

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Statistic 15

"70% of organizations have implemented or are in the process of implementing an HR shared services center."

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Statistic 16

"About 75% of HR management software includes employee self-service options."

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Statistic 17

"On average, HR teams take about 42 days to fill a new position."

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Statistic 18

"Over 90% of HR executives plan to maintain or increase investment in HR technologies."

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Statistic 19

"83% of HR leaders say that employee experience is either important or very important to their organization's success."

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Statistic 20

"Employee performance management systems are used by 58% of organizations in their HR practices."

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Interpretation

A prominent trend in HR is the increasing reliance on technology, with 56% of companies incorporating AI into their processes. This shift is seen as a way to free up time for strategic initiatives according to 67% of HR professionals. Surprisingly, only 10% of companies are confident in their HR analytics capabilities, highlighting a potential gap in leveraging data for decision-making. The high turnover rate of 18% in the US underscores the importance of employee retention, a top workforce mana

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