This article is part of a recurring series highlighting recent talent mobility industry reports. If you would like the WERC editorial team to consider covering a specific industry report, email mobility@talenteverywhere.org.
Global talent mobility professionals play a pivotal role in enabling workforce agility, talent retention, and organizational growth. Workday’s latest Global Workforce Report highlights the widening gap between rising application volumes and stagnant job offer rates, signaling a highly competitive market where attracting and retaining top talent is more complex than ever. As companies navigate shifting employee expectations, mounting burnout risks, and a growing reliance on AI-driven hiring tools, mobility leaders are positioned to bridge workforce strategy with employee experience. With internal mobility emerging as a key lever for engagement and loyalty, global mobility programs that foster career development, flexibility, and purpose-driven work will be essential to building resilient, future-ready organizations.
According to Workday’s report, hiring demand, as indicated by job requisitions, rose 7% in the first half of 2024 compared to the same period in 2023. During that time, applications increased by 31% and referrals by 30%, yet job offers remained flat. This points to a job market that is loosening but still highly competitive for workers. The report, based on a July survey of 1,000 respondents (70% of whom were director level or higher) from a range of industries, functions, and regions, also found that 72% of leaders are raising the bar for qualifications and experience. Additionally, three-quarters of industries reported an increase in voluntary turnover among high-potential employees.
Applications Increase, as Do AI Vettings
With applications growing more than four times faster than job requisitions, employers are seeking ways to identify top talent while maintaining fairness for candidates and employees alike. To address this challenge, many are turning to AI and machine learning (ML). Nearly 90% of survey respondents expect these tools to bring moderate (43%) or significant (46%) gains in hiring efficiency. Currently, only 16% of companies are not using AI or ML in their hiring processes.
Talent Attrition: Loyalty, Engagement, and Burnout
Three-quarters of the industries tracked experienced a rise in voluntary turnover among high-potential employees. Loyalty scores—based on responses to questions about job-seeking behavior—declined significantly in professional, business, and financial services, while remaining more stable in other sectors. Overall employee engagement held steady, though it varied by industry. The industries that saw the greatest gains in engagement prioritized key elements of a strong employer-employee relationship: fair compensation, opportunities for growth, and clearly defined goals. Meanwhile, a separate report from Workday found that more than a quarter of workers within an organization are at high risk of burnout, likely contributing to the higher attrition.
Boosting Employee Loyalty
Strengthening the employer-employee relationship is key to enhancing employee loyalty, retaining top talent, and boosting productivity. As the report notes, this involves “cultivating a greater sense of accomplishment by making work more meaningful.” Employees who view their work as meaningful report a significantly higher sense of accomplishment—8.86 out of 10—which correlates with stronger loyalty. In contrast, those who feel their work lacks meaning, even if their workload is manageable, report much lower accomplishment levels (5.15 out of 10). The report also found that 59% of respondents believe flexible or hybrid work arrangements have had a positive impact on their organization over the past year.
Internal mobility was also seen as a key driver. Most (72%) business leaders expect employee interest in internal opportunities to grow over the next year, and 84% believe the internal mobility process is both clear and accessible. Two-thirds say internal mobility has positively impacted their organization in the past year. Workday’s internal mobility metrics support this view: From February 2023 to January 2024, over 30% of hires came from within, meeting company targets. Internal hires, especially those making lateral moves, reported stronger perceptions of growth opportunities and were 80% more likely than external hires to be rated as top performers in their new roles.
What to Make of the Findings
For talent mobility professionals, these findings emphasize the growing importance of aligning mobility programs with broader talent strategies. As organizations face increased competition for talent, rising burnout, and shifting employee expectations, internal mobility and meaningful work experiences are emerging as critical retention tools. Relocation policies that support career development—through cross-functional moves, geographic flexibility, and hybrid work—can play a vital role in enhancing loyalty and engagement. By helping employees grow within the organization and stay connected to purpose, mobility teams have a unique opportunity to drive both organizational agility and workforce satisfaction in today’s evolving labor market.