2024 HR Industry Benchmark Report

Now in its fifth year, ELMO’s annual HR Industry Benchmark Report surveyed over 1,200 HR professionals to uncover key HR trends, challenges and opportunities across Australia and New Zealand.

This year’s report unveils the realities impacting today’s HR strategy – the mounting economic concerns, pressures to escalate productivity, and the growing urgency for a sustainable plan to foster future skills. Download your copy today.

Cost to hire

The average hiring cost is now $20,000 per new recruit.

Turnover and new hire turnover rates

Approximately one in seven newcomers exit during their probation period.

ELMO_Icon_Peer-to-PeerRecognition_COLOUR 1

Workforce growth rates for 2024

27% of Australian HR professionals expect to restructure their organisations in 2024

ABOUT THE 2024 HR INDUSTRY BENCHMARK REPORT

ELMO Software commissioned Censuswide to survey 700 HR professionals in Australia and 500 in New Zealand, providing in-depth, local data across key areas within HR’s mandate. Fuel your 2024 strategy with actionable insights, catered to overcome the hurdles of hiring costs, productivity pressures, and more.

Navigating today’s economy

The economic outlook is the top challenge for organisations in Australia and a top three challenge for New Zealand.

Top priorities for businesses

Increasing productivity ranks as a top priority for 2024 across Australia and New Zealand, alongside employee wellbeing.

Tackling the ‘productivity predicament’

However a lack of employee engagement and poor prioritisation are the top barriers holding back productivity.

The key themes from this year’s report reflect the realities we’re facing today. Economic concerns, productivity pressures and the need for a more sustainable approach to acquiring skills for the future.

Joseph Lyons

CEO at ELMO Software

Take a data-driven approach to HR

Download your free copy of the 2024 HR Industry Benchmark Report today.

Download now