2024 HR Industry Benchmark Report

Highlights from the 2024 HR Industry Benchmark Report

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.

Key stats:

• The average hiring cost is now $20,000 per new recruit.
• Approximately one in seven newcomers exit during their probation period.
• New recruits need more time to reach full productivity.

Why Download Our 2024 HR Industry Benchmark Report

These statistics underline a pivotal necessity for businesses to invest in onboarding and carve strategic plans to reduce dependence on external recruitment. 

Our survey pulls the focus onto productivity as well. Boosting employee engagement, empowering leaders with the right tools, and refining goals at the organisational level are the most vital challenges obstructing productivity.

Amidst these rising challenges, the silver lining comes in the form of maturing data deployment by HR professionals, and the remarkable adoption of HR technology to reclaim time for matters of higher importance. 

Our future skills section reaffirms that technology, data-driven decisions and strategic planning form the core of HR’s evolving future.

Equip yourself with HR trends and data-driven insights

Dive into our comprehensive report and fuel your 2024 strategy with actionable insights, catered to overcome the hurdles of hiring costs, productivity pressures, and more.

Plus, use our benchmarking data to measure your organisation’s HR health against industry standards. Including:

• Recruiting metrics such as average time, cost to hire and time to productivity 
• Turnover and new hire turnover rates
• Workforce growth rates for 2024
• Average salary increase predictions
• Budget changes

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