Payroll & HR 2024 Trends - Header Image

HR & Payroll in 2024

Out with the old, in with the new. Take a look at six statistics that provide insight on how to adjust to the evolving HR & payroll landscape in 2024.

Payroll & HR 2024 Trends - EWA Market Statistic
Rise in Earned Wage Access

14.9% expected growth in the market size of EWA solutions between now and 2033.

By providing an earned wage access solution (EWA), businesses will not only differentiate themselves from competitors but also improve productivity and engagement in the workplace.

(Martket Statsville, 2022)

Payroll & HR 2024 Trends - Integrations Stat
Innovative HR & Payroll Integrations

52% said a key factor driving the evolution of payroll in the next two years is increased integration of payroll, HR, and attendance systems.

Integrating HR and payroll software systems has become a valuable business strategy because it helps streamline processes, minimize errors, and enhance data management capabilities.

(HR.com, 2023)

Payroll & HR 2024 Trends - AI Job Fear Stat
Rise in AI

24% of workers fear that AI will make their jobs obsolete.

One of the hottest trends over the past year is the meteoric rise of artificial intelligence (AI) in the workplace. Ensuring your employees have a positive relationship with AI by teaching them how to properly utilize these tools to streamline daily tasks is incredibly important in helping dispel these fears.

(CNBC|SurveyMonkey, 2023)

Payroll & HR 2024 Trends - Pay Transparency Stat
The Need for Pay Transparency

79% of employees desire increased pay transparency.

Reassessing and updating your business’ pay transparency policies in 2024 to meet these demands can aid in addressing non-performance-related pay gaps and maintaining competitiveness in the recruitment process.

(Inc., 2022)

Payroll & HR 2024 Trends - Skills Training Stat-1
Skills Training

93% of Millennial and Gen Z employees expect their employers to provide learning opportunities.

Meeting these demands by offering training programs for workers to develop new skills is not only a great way to increase employee retention, but also essential in providing employees with the knowledge they need for career growth.

(getAbstract, 2023)

Payroll & HR 2024 Trends - Employee Wellness Stat
Focus on Employee Wellness

42% of workers actively consider quitting their jobs due to poor work-life balance, low pay, and toxic culture.

To meet the mental health needs of your employees in 2024, it will be essential to implement strategies to provide your employees with mental health resources that prioritize stress management and work-life balance.

(HR Today, 2023)