The Ultimate List of HR (Human Resource) Statistics for 2024 – Facts & Trends
Human resources play a vital role in any organization, yet few HR professionals know just how important they are. From keeping employees happy and productive to managing payroll and benefits, HR professionals wear many hats.
The following HR statistics paint a picture of the current state of the HR profession and the challenges it faces. These statistics can be used by journalists, writers, and researchers to support their work on topics related to HR.
General HR and HRIS statistics
On average, the budget for each user of HRIS software is $210.
The average budget for each user of HRIS software is $210, according to Softwarepath. This budget can be attributed to the various features and benefits that HRIS software provides its users. By automating and simplifying HR processes, HRIS software can help organizations save time and money. HRIS software can improve employee satisfaction and retention by providing self-service tools and better communication between employees and managers.
While the average budget for each user of HRIS software is $210, the actual cost will vary depending on the specific needs of the organization. Smaller organizations may be able to get by with a less expensive solution, while larger organizations may need to invest in a more comprehensive solution.
98% of companies consider using a cloud-based HRIS.
Almost all companies nowadays are considering using a cloud-based HRIS, with 98% according to Softwarepath. The main reasons are that it can deliver significant cost savings and efficiencies, as well as improve workforce management.
BambooHR and Workday are the most popular HRIS systems.
The most popular HRIS systems, according to Softwarepath, are BambooHR and Workday.
BambooHR is a cloud-based HRIS system that helps businesses manage their employee data. It offers features such as online onboarding, performance tracking, and time off tracking.
Workday is a cloud-based HR management system that offers a suite of tools for managing employee data. Its features include payroll management, leave management, and talent management.
Both BambooHR and Workday offer free trials, so you can try them out and see which one is best for your business.
HR Statistics on Employee Happiness and Engagement
It’s no secret that happy employees are more productive employees. Numerous studies have shown that there is a direct correlation between employee happiness and productivity. In fact, one study found that happy employees are 21% more productive than their unhappy counterparts.
Despite this, employee happiness remains a challenge for many organizations. A recent poll found that only 33% of employees worldwide are engaged at work. This means that the majority of employees are either not engaged or actively disengaged in their work—a troubling thought for any organization. Fortunately, there are things that HR professionals can do to increase employee happiness and engagement.
One way to increase employee happiness is to give them a greater sense of control over their work. According to research from the Harvard Business School, workers who feel like they have some degree of control over their work are happier and more engaged than those who feel like they have no control. Another way to increase employee happiness is to focus on creating a positive culture in the workplace. Employees who feel like they belong to a positive, supportive culture are more likely to be happy and engaged in their work.
HR Statistics on Diversity and Inclusion
Diversity and inclusion have become major focus points for HR professionals in recent years. Organizations now recognize that a diverse workforce can lead to increased creativity, innovation, and profitability. A study by McKinsey found that organizations in the top quartile for gender diversity on executive teams were 21% more likely to experience above-average profitability than those in the bottom quartile. Similarly, organizations in the top quartile for ethnic/cultural diversity on executive teams were 33% more likely to experience above-average profitability than those in the bottom quartile.
Despite these clear advantages, many organizations still struggle with creating a diverse and inclusive workforce. A recent survey found that only 24% of employers believe their organization is doing a good job at promoting diversity and inclusion. One reason for this may be that most organizations lack formal Diversity & Inclusion programs; according to another survey, only 38% of organizations said they had such programs in place. Additionally, almost half (49%) of survey respondents said their organization does not track data on diversity metrics such as ethnicity, gender, or veteran status— making it difficult for them to improve upon these areas.
HR Statistics on Payroll and Benefits Administration
Payroll and benefits administration are two of the most time-consuming tasks for HR professionals. In fact, nearly half (45%) of HR professionals polled said that payroll is their number one administrative task—with benefits administration coming in second at 34%. Moreover, nearly one-third (32%) of respondents said they spend more than 10 hours per week on payroll-related tasks such as calculating hours worked, tracking vacation/sick days, and issuing paychecks.
Fortunately, there are ways to reduce the amount of time spent on these tasks. One way is to automate as much as possible using payroll software or an online portal where employees can view and manage their own information (such as vacation days). Another way is to outsource payroll and benefits administration entirely to a third-party provider; while this may cost more money upfront, it can save significant amounts of time in the long run—time that can be better spent on other tasks such as talent acquisition or employee development.
Conclusion
These statistics provide valuable insights into the current state of the HR profession. They highlight both the challenges faced by HR professionals as well as some potential solutions for overcoming those challenges. As we move into 2023 and beyond, it will be interesting to see how these trends continue to evolve—and what new challenges arise for HR professionals to tackle head-on.
Mats-Peter Forss
Mats-Peter Forss is a full-time website tycoon and digital product creator with years of experience in different software products. Along with writing to forssinc.com, Mats-Peter is running multiple different websites and selling digital products (vectors, fonts, and logo templates).
