GenZ, Domestic Hiring Shaped the Global Hiring Market in 2024

The workforce landscape in 2024 saw significant shifts as companies adapted to new generational dynamics, rising demand for local talent, and increasing competition in specialized sectors. These trends are poised to continue shaping the future of work in the coming years, according to the recently published Deel’s State of Global Hiring Report 2024.

One of the most prominent trends was the growing influence of Generation Z (Gen Z) in the workplace. Despite concerns about their job performance, employers prioritized hiring and retaining this demographic. In 2024, Gen Z saw the fastest salary growth at 9%, surpassing even Millennials who are starting to take on more managerial roles. The higher salary increases for Gen Z highlight their emerging value, particularly due to their familiarity with cutting-edge technologies like AI, and their strong focus on learning and development.

“Gen Z brings digital-native skills, a focus on purpose over pay, and a demand for career personalization and development to the workplace. These traits can translate well when it comes to distributed work, which often enables a high degree of personalization in when, where, and how people work,” says Alice Burks, Director of People Success, Deel. 

Domestic hiring also gained momentum. While global hiring remains important, data from Deel shows a significant preference for candidates located closer to home. Domestic hiring grew by 104% in 2024, compared to 42% for international hiring. Companies are increasingly focusing on local talent, narrowing the geographic scope for cross-border hires. Despite this trend toward local hiring, remote work remains dominant, with 82% of workers on Deel’s platform working remotely as of 2024.

Another key trend was the growing demand for accountants. While software engineers had been the most sought-after professionals in recent years, accountants became the new must-have employees in 2024. A shortage of accounting talent, compounded by the complexities of managing a global workforce, led to higher hiring rates and salary increases for accountants. In 2024, hiring in accounting grew by 74%, and salaries saw a 15% increase, surpassing growth in other sectors. This surge in demand contrasts with the declining interest in accounting from early-career workers, making these professionals even more valuable.

With these trends likely to continue into 2025, employers will need to navigate a competitive labor market while adapting to the evolving needs of both their employees and the broader business environment.

Deel enables companies to hire international talent. The platform offers onboarding, payroll, and other features to provide a seamless experience for employees, similar to local hires, while ensuring legal compliance, explains Alex Bouaziz, Co-Founder and CEO, Deel, to MBN.