10 hiring statistics shaping 2024-25

Hiring in 2024 is difficult because there are more dimensions than ever to consider. From evolving technology and increasing inflation to a shrinking middle class and shifting job seeker priorities, it’s smart to learn about hiring statistics that are irrevocably changing the process.

We've curated ten top hiring statistics that have set the stage for this year and will influence next year and beyond. Enjoy!

Artificial intelligence (AI)

1. 21% of workers believe AI will replace most of their functions¹

AI has brought about panic in many industries and an equal amount of excitement in others. However, while AI's capabilities are increasing every day, people are starting to pivot from an initial emotional space to one of action.

We'd wager that many people will begin upskilling to future-proof their careers while others will try swapping industries to remain employable. In addition, new roles will begin popping up and people will change their career directions to pursue them.

Work/life balance

2. Just 21% think their employer supports their mental health¹

According to one finding¹, employees that are supported are less likely to feel stressed, which leans toward better overall mental health. People want to feel supported and there's a large opportunity to capitalize on better mental health.

3. 40% of employees with children think the workplace has become harder for them in the last decade.²

Working parents are facing an uphill battle every day. To that point, "70% of working parents say working for a company that offers benefits to support work/life balance is non-negotiable."²

The parents of today are not shy about being their own advocates though! In fact, "78% of working parents say they feel parents are more comfortable speaking up about family responsibilities than they were in 2014."²

So what do these parents want? Well, 46% want assistance from their employer to help pay for child care.² It's a huge expense and offering it to candidates is a major differentiator in today's market.

Money

4. 55%+ of worldwide ADP respondents included salary in their top three most important job attributes.¹

Did you know that the United States federal minimum wage has remained unchanged since 2009?³ It's true and people are feeling the pinch.

While compensation has always been important to job seekers, salary is being forced to the forefront of everyone's minds due to inflation. As such, raises are an expectation now.

"More than three in four workers received a pay increase during the previous 12 months, with the average raise coming in at about 4%. Wage expectations for the current year are higher, averaging more than 5%."¹

Flexibility

5. 37% say their employer has been more flexible regarding remote work in the last year.¹

Though there have been many headlines about return to office (RTO) mandates, it seems they aren't quite as common or expected as one may think. Flexibility is still available and job seekers are aware.

6. 17% of younger adults want to choose where they work. Only 13% of older workers desire that.¹

Older generations are used to in-person work and feel it's the expectation while younger generations are divided on it. However, flexibility is trending downward across the board when it comes to job seeker priorities.

"Workers of all ages and in all regions rank flexibility of location below salary, job security, work enjoyment and career progression."¹

7. One in four workers want flexible working hours.¹

Location isn't as important to workers nowadays, but flexibility isn't just about that. It's more so about how they spend their time. They want the freedom to flex their schedule so that scheduling things like dentist appointments and other meetings becomes less of a struggle.

College

8. Three out of four adults believe having a four-year college degree to get a well-paying job in today’s economy is neither "extremely or very important."⁴

With the rise in conversations about student loan debt and the removal of certain academic job requirements in lieu of earned skills, this was not entirely surprising to us.

"Roughly half (49%) say it’s less important to have a four-year college degree today in order to get a well-paying job than it was 20 years ago."⁴

Continued learning

9. 25-34-year-olds prioritize training and development more than any other age group.¹

This interest is likely because they want to advance their careers and earn a higher wage. As stated previously, with economic concerns looming, lots of professionals are actively pursuing more money to compensate.

Economic classes

10. The middle class is getting smaller and smaller. "In 1971, 61% of Americans lived in middle-class households. By 2023, the share had fallen to 51%."⁵

The two larger classes, upper and lower, are starkly divided and their priorities are very different. This wide separation has left the middle class fighting for better salaries hammering the point home that yet again, salary is at a premium.

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The economy and world at large are always shifting and employers must consider the full picture when hiring or working to retain their existing team. If you'd like further insights on some of these trends, we're always here to help.

Citations:

• 1: People at Work 2024: A Global Workforce View
• 2: 10th Annual Modern Family Index: The New Working Parent
• 3: Real and nominal value of the federal minimum wage in the United States from 1938 to 2023
• 4: Is College Worth It?
• 5: The State of the American Middle Class

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