The post-pandemic era has transformed how companies attract, manage, and retain talent. Deel’s latest Global Hiring Report data reveals emerging trends that can reshape your workforce planning strategy – no matter where your organisation operates.
This article breaks down four global hiring trends into actionable steps, outlining strategic implications and offering workforce planning strategies for each.
Trend one: Gen Z becomes the new priority for employers
In 2024, Gen Z workers experienced the fastest salary growth (9%) and the lowest rate of involuntary terminations among all generations (36%). Even as their career journey is just beginning, Gen Z’s tech-savvy mindset and commitment to learning have quickly made them a top priority for many organisations.
What this means for your workforce strategy
Gen Z’s rapid rise signals a need to rethink onboarding, career development, and compensation strategies to attract and retain these digitally native employees. Their familiarity with emerging technologies, such as AI, is a valuable asset – but only if you create an environment that meets their expectations.
Next steps
- Revamp onboarding and upskilling programmes: Tailor your training initiatives to emphasise digital literacy and continuous learning.
- Adjust compensation models: Review and update your pay structures to remain competitive both locally and globally, reflecting the rapid salary trends among Gen Z.
- Leverage HR tools: Invest in AI-driven HR platforms to streamline remote onboarding, ensure global compliance, and manage efficient localised payroll, creating a seamless experience for a distributed workforce.
Trend two: Domestic hiring is on the rise
Deel’s hiring report shows domestic hiring (hiring within the same country) surged by 104% in 2024, compared with 42% for cross-border hires. Even as remote work remains popular, employers are increasingly favouring candidates located closer to home (especially those working in the same time zone).
What this means for your workforce strategy
The shift toward domestic hiring suggests that companies are emphasising local or regional talent pools more. Localised hiring can simplify compliance with labour regulations, reduce challenges related to time zones, and foster improved team coordination – all while preserving the benefits of remote work.
Next steps
- Refocus your talent acquisition: Optimise your recruitment efforts to target local job markets. Consider creating region-specific job postings that resonate with local candidates.
- Strengthen compliance and payroll management: Ensure your hiring strategy aligns with local labour laws and payroll requirements. Implement robust processes to manage compliance efficiently across different regions while maintaining flexibility in workforce expansion.
Trend three: Accountants are becoming the new must-have talent
In 2024, the hiring growth for accountants soared by 74%, and salaries increased by 15% – outpacing even software engineers. As organisations expand into new markets, the need for expertise in complex tax and compliance requirements is driving up the demand (and cost) for top accounting talent worldwide.
What this means for your workforce strategy
Organisations with global ambitions need skilled accountants. Addressing this talent shortage requires a targeted recruitment strategy that recognises the premium placed on accounting expertise across different regions and regulatory environments.
Next steps
- Refine your recruitment approach: Develop specialised compensation packages that account for the high demand and unique skill sets required in accounting and are customised to reflect regional market conditions.
- Invest in retention strategies: Offer continuous professional development and performance incentives to keep top accounting talent engaged.
- Strengthen payroll and tax compliance: Establish clear processes to manage cross-border payroll and tax obligations efficiently, ensuring compliance with regional regulations while supporting a globally distributed accounting team
Trend four: Terminations and voluntary quits are decreasing
After a period of aggressive hiring and subsequent cost-cutting, US terminations have decreased from their 2023 peak. Additionally, voluntary quits have dipped slightly, indicating that employees are staying in their roles longer.
What this means for your workforce strategy
While attracting top talent remains crucial, retaining skilled employees is equally important. A stable workforce fosters long-term growth and operational consistency – a goal that can be achieved through retention programmes tailored to different markets.
Next steps
- Enhance retention programmes: Consider implementing pay-for-performance models that reward longevity and contributions.
- Reassess compensation strategies: Invest in robust, data-driven compensation planning that addresses both global trends and local market conditions.
- Strengthen retention through data-driven strategies: Develop retention initiatives that align with evolving market trends, using insights from workforce data to refine compensation, benefits, and career development programmes tailored to different regions.
Refresh your hiring strategy
By acting on these four key trends – from the rise of Gen Z workers and local hiring, to the increasing importance of accounting talent and improved retention metrics – you can revamp your hiring strategy for the future.
More about Deel
With Deel’s comprehensive HR, payroll, and compliance solutions, your organisation is well-equipped to adapt quickly and stay ahead in today’s competitive talent market – no matter where you operate. Get in touch with Deel to learn more.
