There was a significant decrease in turnover and hiring globally—with hiring hitting a five-year low—at the end of 2024, according to research from BambooHR. Hiring decreased in all industries, with global hiring dropping to 1.7% and U.S. hiring dropping to 1.9% in December 2024.
At the same time, reviews continued to spike, with an overall increase of 14% in reviews in the U.S. since November. This indicates organizations are dedicated to assessing an enhancing performance as they prepare for the new year. Â
Globally, PTO requests decreased in December, but there was a slight uptick in the United States. For Americans, 38% of employees requested PTO and 48% of those requests were approved.
This represents a 7% increase in requests and a 3% rise in approval compared to November. On the flip side, 43% of employees globally requested time off in December, but only 47% of those requests were approved. Compared to November, the percentage of PTO requests globally dropped by 4%, and approval decreased by 1%.Â