Workday Global Workforce Report

Workday's Global Workforce Report for the first half of 2024 highlights a notable trend in the labor market: job applications are increasing four times faster than job openings, creating a competitive landscape for job seekers. Despite this growth, organizations are struggling to retain top talent, with voluntary turnover among high-potential employees up in 75% of industries. To address these challenges, companies are turning to AI to enhance hiring efficiency and fairness, and to support internal mobility programs aimed at retaining key employees. The report also underscores the importance of meaningful work in driving employee satisfaction and loyalty, with those finding their work meaningful feeling 37% more accomplished even under challenging workloads.