Workday Global Workforce Report: Job Market Tightens as AI Reshapes Hiring Processes
Workday's Global Workforce Report reveals significant shifts in the job market and hiring practices. Job applications grew 31%, outpacing job openings at 7%, indicating a tightening labor market. Despite this, high-potential employees are increasingly leaving their positions, with 75% of industries experiencing higher turnover among top performers.
The report highlights the growing role of AI in recruitment, with 77% of organizations planning to increase AI usage in hiring. Meaningful work emerged as a important factor in employee satisfaction and retention, with workers finding meaning in their roles feeling 37% more accomplished.
Key trends include employers becoming more selective, raising qualification standards, and the importance of internal mobility programs. The report underscores the challenges faced by both job seekers and employers in a competitive market, emphasizing the need for innovative retention strategies.
Il Rapporto Globale sulla Forza Lavoro di Workday rivela cambiamenti significativi nel mercato del lavoro e nelle pratiche di assunzione. Le domande di lavoro sono aumentate del 31%, superando le offerte di lavoro del 7%, indicando un mercato del lavoro in contrazione. Nonostante ciò, i dipendenti ad alto potenziale stanno lasciando sempre di più le loro posizioni, con il 75% dei settori che sperimenta un aumento del turnover tra i migliori performer.
Il rapporto evidenzia il crescente ruolo dell'IA nel reclutamento, con il 77% delle organizzazioni che pianificano di aumentare l'uso dell'IA nelle assunzioni. Il lavoro significativo è emerso come un fattore importante nella soddisfazione e nella retention dei dipendenti, con i lavoratori che trovano significato nei loro ruoli che si sentono il 37% più realizzati.
I principali trend includono datori di lavoro che diventano più selettivi, alzando gli standard di qualificazione, e l'importanza dei programmi di mobilità interna. Il rapporto sottolinea le sfide affrontate sia dai cercatori di lavoro che dai datori di lavoro in un mercato competitivo, evidenziando la necessità di strategie innovative per la retention.
El Informe Global de Fuerza Laboral de Workday revela cambios significativos en el mercado laboral y en las prácticas de contratación. Las solicitudes de empleo crecieron un 31%, superando las ofertas de trabajo en un 7%, lo que indica un mercado laboral más ajustado. A pesar de esto, los empleados con alto potencial están abandonando sus puestos cada vez más, con un 75% de las industrias experimentando una mayor rotación entre los mejores talentos.
El informe destaca el creciente papel de la IA en el reclutamiento, con un 77% de las organizaciones planeando aumentar el uso de la IA en la contratación. El trabajo significativo ha surgido como un factor importante en la satisfacción y retención de los empleados, y aquellos que encuentran significado en sus roles se sienten un 37% más realizados.
Las tendencias clave incluyen a los empleadores volviéndose más selectivos, elevando los estándares de calificación y la importancia de los programas de movilidad interna. El informe subraya los retos que enfrentan tanto los buscadores de empleo como los empleadores en un mercado competitivo, enfatizando la necesidad de estrategias innovadoras de retención.
워크데이의 글로벌 인력 보고서는 일자리 시장과 채용 관행의 중요한 변화를 보여줍니다. 구직 신청이 31% 증가하여 일자리 구인보다 7% 더 많아졌습니다, 이는 노동 시장이 긴축되고 있음을 나타냅니다. 그럼에도 불구하고 높은 잠재력을 가진 직원들이 자신들의 직위를 점점 더 많이 떠나고 있습니다, 75%의 산업이 최고의 성과자들 간의 이직률 증가를 경험하고 있습니다.
보고서는 채용에서 AI의 역할이 커지고 있는 것을 강조하며, 77%의 조직이 채용에서 AI 사용을 늘릴 계획입니다. 의미 있는 일이 직원의 만족도와 유지에 중요한 요소로 부각되었습니다, 자신의 역할에서 의미를 찾는 근로자는 37% 더 성취감을 느꼈습니다.
주요 트렌드로는 고용주가 더 선택적으로 변하고 자격 기준을 높이며 내부 이동 프로그램의 중요성이 대두되고 있습니다. 이 보고서는 경쟁 시장에서 구직자와 고용주가 직면한 도전 과제를 강조하며, 혁신적인 유지 전략의 필요성을 강조합니다.
Le Rapport Mondial sur la Main-d'œuvre de Workday révèle des changements significatifs sur le marché du travail et dans les pratiques de recrutement. Les demandes d'emploi ont augmenté de 31%, dépassant les offres d'emploi de 7%, ce qui indique un marché du travail tendu. Malgré cela, les employés à fort potentiel quittent de plus en plus leurs postes, avec 75% des secteurs connaissant une hausse du turnover parmi les meilleurs performers.
Le rapport met en lumière le rôle croissant de l'IA dans le recrutement, avec 77% des organisations prévoyant d'augmenter l'utilisation de l'IA pour les recrutements. Un travail significatif a émergé comme un facteur important dans la satisfaction et la rétention des employés, les travailleurs trouvant du sens dans leurs rôles se sentant 37% plus épanouis.
Les tendances clés incluent des employeurs devenant plus sélectifs, élevant les standards de qualification et l'importance des programmes de mobilité interne. Le rapport souligne les défis auxquels font face les chercheurs d'emploi et les employeurs dans un marché compétitif, en soulignant la nécessité de stratégies de rétention innovantes.
Der Global Workforce Report von Workday zeigt bedeutende Veränderungen auf dem Arbeitsmarkt und in den Einstellungspraktiken. Die Bewerbungen stiegen um 31%, während die Stellenangebote nur um 7% zunahmen, was auf einen angespannten Arbeitsmarkt hinweist. Trotz dessen verlässt eine zunehmend hohe Anzahl von potenziellen Mitarbeitern ihre Positionen, wobei 75% der Branchen einen höheren Umsatz unter den Spitzenperformern erfahren.
Der Bericht hebt die wachsende Rolle von KI im Rekrutierungsprozess hervor, wobei 77% der Organisationen planen, den Einsatz von KI bei Einstellungen zu erhöhen. Die Sinnhaftigkeit der Arbeit trat als wichtiger Faktor für die Mitarbeiterzufriedenheit und -bindung hervor, wobei Mitarbeiter, die in ihren Rollen Sinn finden, sich zu 37% erfüllter fühlen.
Wichtige Trends sind unter anderem, dass Arbeitgeber selektiver werden, die Qualifikationsstandards erhöhen und die Bedeutung interner Mobilitätsprogramme. Der Bericht unterstreicht die Herausforderungen, vor denen sowohl Arbeitsuchende als auch Arbeitgeber in einem wettbewerbsintensiven Markt stehen, und betont die Notwendigkeit innovativer Strategien zur Mitarbeiterbindung.
- 31% increase in job applications processed by Workday Recruiting customers
- 7% growth in job requisitions, indicating market expansion
- 77% of organizations plan to increase AI use in hiring, potentially improving efficiency and fairness
- 67% of leaders report positive impact from internal mobility programs
- Voluntary turnover of high-potential employees increased in 75% of tracked industries
- 50% of companies struggle to retain their best talent
- 72% of leaders are raising qualification standards, making it harder for job seekers
- Intense competition in the job market, making it challenging for employers to select the right candidates
Insights
The Workday Global Workforce Report reveals significant shifts in the job market landscape. The 31% surge in job applications compared to only 7% job growth indicates a tightening labor market, favoring employers. This trend could lead to downward pressure on wages and more stringent hiring processes.
However, the increased voluntary turnover of high-potential employees in 75% of industries suggests a paradox. Top talent remains in high demand, potentially driving up compensation packages for skilled workers. Companies may need to invest more in retention strategies, including internal mobility programs, which 67% of leaders report as having a positive impact.
The widespread adoption of AI in hiring processes (77% of organizations planning to increase usage) could significantly alter recruitment dynamics. This may lead to more efficient and potentially fairer hiring practices, but also requires companies to adapt their talent acquisition strategies accordingly.
The report highlights a pivotal shift towards AI-driven HR processes. With 77% of organizations planning to increase AI use in hiring, we're witnessing a technological revolution in talent acquisition. Key applications include skills testing (26%), resume screening (26%) and task automation (24%).
This AI integration promises to enhance hiring efficiency and fairness, as 70% of leaders believe it will make hiring more equitable. However, it also presents challenges in terms of data privacy, algorithmic bias and the need for human oversight.
The focus on meaningful work as a retention strategy is intriguing. Employees finding their work meaningful report 37% higher feelings of accomplishment, even under challenging workloads. This suggests that HR tech solutions should not only streamline processes but also help align employee roles with organizational purpose to boost engagement and retention.
The report unveils a critical paradox in today's job market. Despite an overall employer's market, with applications outpacing job openings 4:1, top talent remains scarce and mobile. The increased voluntary turnover of high-potential employees across 75% of industries signals a wake-up call for retention strategies.
Companies must recalibrate their talent management approaches. The emphasis on meaningful work as a key to employee satisfaction and resilience is particularly noteworthy. Employees who find their work meaningful feel 37% more accomplished, even under heavy workloads. This underscores the importance of purpose-driven roles and clear career trajectories.
The rise of internal mobility programs, with 67% of leaders reporting positive impacts, offers a promising solution. By focusing on employee development and creating clear growth paths within the organization, companies can simultaneously address retention challenges and skill gaps, fostering a more engaged and loyal workforce.
Job Applications Grew Four Times Faster than Job Openings
Even in an Employer's Market, Data Shows Top Talent is Hard to Find and Harder to Keep
AI Emerges as Key Tool in Talent Acquisition and Retention
Key findings from the first half of 2024 Workday Global Workforce Report include:
- It's getting tougher to land a new job: The surge in applications (
31% ) far outpaces job growth (7% ) in the first half of 2024 compared to the first half of 2023. - Top performers may leave first: Voluntary turnover of high-potential employees is up in
75% of the industries tracked. - AI is becoming a must-have tool for HR teams:
77% of organizations plan to increase their use of AI in hiring in the coming year. - Meaningful work leads to greater feelings of accomplishment and loyalty: Workers who believe they are doing meaningful work feel
37% more accomplished than those who don't, even under workloads workers describe as "challenging."
Workday Recruiting customers processed 19 million job requisitions – a
"The job market is shifting to favor employers, but, at the same time, workers are getting more confident in what they want – competitive pay, clear growth paths, and meaningful work," said Ashley Goldsmith, chief people officer, Workday. "It's up to leaders to help employees find meaning in their work in order to retain the high performing people who drive their organization's success."
The Job Market Remains Tough for Workers
While companies are hiring more, they're also receiving a flood of applications, making it harder for employers to select the right candidate and for employees to stand out. This intense competition is pushing employers to become even more selective, with
High Performing Workers Seek New Opportunities as Employers Struggle to Retain Talent
As companies start hiring again, their most talented employees may be leaving for better opportunities elsewhere. Even though overall employee turnover has been low, data shows that top performers are most likely to leave:
AI is Leveling the Hiring Playing Field and Improving Efficiency
More and more companies are turning to AI for hiring and are seeing real benefits. Most leaders (
Meaningful Work Emerges as the Key to Employee Loyalty and Resilience
In a time when companies are pushing for greater productivity, giving employees meaningful work to drive feelings of accomplishment is key to keeping them engaged and loyal. Report findings show that employees who find their work meaningful feel
For additional information:
- Download the report, Workday Global Workforce Report
- Read more about the report on the Workday Blog, Global Workforce Report: Top Talent Is Hard to Find, Harder to Keep
About this Report
Insights in the Global Workforce Report (formerly known as the Workday Hiring and Talent Trends Report) are from Workday Peakon Employee Voice, Workday People Analytics, Workday Recruiting, and HiredScore. Third-party data comes from research commissioned by Workday and carried out by independent market research specialist Hanover Research, which polled 1,000 respondents in July 2024. For more, see the methodology section at the end of the report.
About Workday
Workday is a leading enterprise platform that helps organizations manage their most important assets – their people and money. The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 10,500 organizations around the world and across industries – from medium-sized businesses to more than
© 2024 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.
Forward-Looking Statements
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Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday's discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.
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SOURCE Workday Inc.
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