HR Trends in 2024 in Luxembourg.

Published on: 1 February 2024

Recruitment is in continuous evolution; over the past year, the introduction of ChatGPT has enabled recruiters to work more efficiently. However, the tight labor market has pressured the recruitment sector to approach things differently. In 2024, significant developments are expected in the HR sector.

What does the job market look like today?

In 2024, the tight labor market will persist. Statec predicts that the unemployment rate will continue to rise, as it has in recent months. However, this alone is not sufficient to recover from the tight labor market. In Luxembourg, there is still a significant shortage of skilled workers. Additionally, there are simply fewer jobs due to the economic slowdown, with Statec noting a 40% drop compared to the same period last year.

This situation immediately provides us with some interesting insights. The number of jobs is decreasing, allowing companies space to delve deeper into job applications. Furthermore, the increase in unemployment poses an additional challenge: how can recruiters ensure they find the right person in this tight job market?

To tackle this new reality effectively, it is worth examining your recruitment policy and, more specifically, the trends we expect in 2024.

In our e-book “Unlocking talent: Navigating the recruitment terrain in Luxembourg” you will find five trends that will characterize the recruitment landscape in 2024. Going from remote work to employee engagement and skillbased hiring.

You can download our e-book for free here: https://www.selecthr.lu/Pages/en-GB/recruitment/ebook

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