Global hiring trends are on the rise, despite return-to-office mandates
Most regions saw salaries increase or stay the same throughout 2023.
A new report shared by Deel, a global HR company, found there are reasons to be optimistic about the state of global hiring in 2024. The report, which analyzed data from global worker contracts throughout 2023, found that global, domestic and remote hiring are all on the rise, despite increasing return-to-office mandates.
The fastest growing hiring regions in 2023 included Europe, the Middle East and Africa along with the Asia-Pacific region. Both regions were followed up by North America and Latin America, according to the report. The top five cities for global workers in 2023 included London, Toronto, San Francisco, Buenos Aires and Madrid. The most popular global roles in 2023 included software engineers and developers, sales, content, product and design.
In addition to increased hiring – most regions saw salaries increase or stay the same throughout 2023, with the exception of North America. Salary trends grew by 7% in Europe, the Middle East and Africa during 2023, according to the report. Job roles with the greatest salary increase throughout 2023 included teaching, sales, software engineers and content.
Terminations also saw decreases towards the end of 2023, according to the report. While terminations spiked globally in January, they fell by 52% in November. In the U.S. however, terminations peaked throughout the year. Job titles with the greatest number of involuntary terminations globally included social media managers, influencer marketing managers and business development positions.
Related: Small businesses are hiring, but can they afford to keep new employees?
Samuel Dahan, Chair of Deel Lab, remains optimistic about hiring trends in 2024. “Current market dynamics reveal a paradox: in spite of the fact that there is no labor shortage, the latest Deel Lab Global Hiring Report shows that employers are conducting international hiring searches more than ever before….despite some indicators of global economic slowdown, we are entering 2024 with cautious optimism, as hiring trends remain strong,” Dahan said.