BambooHR
Workforce Insights

Monthly Report – April 2024

Welcome to the April edition of the BambooHR Workforce Insights report, where we delve into the latest trends shaping the world of employment.

Workforce Insights is powered by aggregated data trends from the millions of admins, managers, and employees who use BambooHR in the US and across the globe.

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Trivia of the Month

In April 2024, PTO requests were up but approvals were down. In the spirit of taking time off, we have a trivia question for you (answer at the end!)

What was the most visited city in the world in 2023?

Hiring, Job Openings, & Turnover

Hires
Job Openings
Turnover
US

MoM 12% ⇧ increase

YoY 3% ⇩ decrease

MoM 8% ⇧ increase

YoY 26% ⇧ increase

MoM 9% ⇩ decrease

YoY 13% ⇩ decrease

Global

MoM 12% ⇧ increase

YoY 6% ⇩ decrease

MoM 9% ⇧ increase

YoY 25% ⇧ increase

MoM 8% ⇩ decrease

YoY 16% ⇩ decrease

Hiring, Job Openings, & Turnover by Industry

Hires
Turnover
Job Openings
Mar to Apr 2024 notable changes
Travel & Hospitality
4.5%
3.4%
1.4%
Job openings ⇧ 11%
Construction
4.1%
2.6%
1.0%
Hires ⇧ 19%
Healthcare
3.5%
2.5%
1.4%
Hires ⇧ 14%
Nonprofit
2.9%
1.9%
1.8%
Turnover ⇩ 17%
Finance
2.8%
2.5%
0.8%
Hires ⇧ 15%
Education
2.4%
1.6%
0.5%
Turnover ⇧ 22%
Restaurant, Food & Bev
2.3%
2.1%
0.7%
Turnover ⇩ 16%
Technology
2.3%
2.3%
1.2%
Hires ⇧ 14%

Manager & Peer Reviews

Manager Reviews
Peer Reviews
US

MoM 10% decrease

YoY 18% increase

MoM 11% increase

YoY 19% increase

Global

MoM 9% decrease

YoY 16% increase

MoM63% decrease

YoY 17% increase

Employee PTO Requests & Approvals

PTO Requests
% PTO Approved
US

MoM <1% decrease

YoY 10% increase

MoM 1% decrease

YoY 6% decrease

Global

MoM <1% decrease

YoY 9% increase

MoM 2% decrease

YoY 5% decrease

The PTO Gap is an interesting trend. Low job turnover points to employee fears about moving jobs and an uncertain market, but the high PTO requests might be signaling a desire to escape, either from the pressures of work or a role they are no longer excited about. Post-pandemic workers prioritize mental health and wellbeing because it’s better understood and more needed, and time off is a critical component of rest.

There is also a seasonality element as we start approaching summer breaks. With most employees wanting to get away during the same three month period, it’s important for People leaders to plan ahead and communicate early and often how the business will balance keeping shop with vacation requests.

Anita Grantham, Head of HR

Employee PTO Requests & Approvals by Industry

PTO Requested
% Approved
Finance
56%
39%
Nonprofit
54%
48%
Technology
52%
49%
Education
41%
46%
Healthcare
35%
55%
Travel & Hospitality
35%
45%
Construction
27%
44%
Restaurant, Food & Bev
18%
48%

Employee PTO Requests & Approvals by Geography

PTO Requested
% Approved
Europe
66%
44%
Middle East/Africa
48%
54%
North America
39%
49%
Asia Pacific
38%
50%
Latin America
31%
62%

Trivia Answer

Istanbul! Did you guess correctly?

About BambooHR

BambooHR® is the leading HR software solution that sets people free to do great work, by managing the complex work of supporting employees and succeeding as a business, while giving leaders all the data they need to make informed strategic decisions.

Intuitively designed and easy-to-use benefits administration, payroll, performance, time tracking, and reporting where everything works together means less focus on process and more focus on growing what matters most—people.

Over the past 15 years, BambooHR has been the trusted partner of HR professionals at 33 thousand companies with employees in over 190 countries and 50 industries, supporting millions of users throughout their employee experience.

Methodology

All source data is from the BambooHR platform, gathered between December 2018 and April 2024, and includes over 4.4 million employee data points across the globe.

The data includes employee and manager performance scores, PTO requests, and other data points that have been analyzed in an aggregated, anonymized way to protect the privacy of employees and the integrity of the metrics.

Turnover include all types of separation of an employee from their company, including voluntary and involuntary separations.

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