{"id":12716,"date":"2023-11-09T12:12:13","date_gmt":"2023-11-09T12:12:13","guid":{"rendered":"https:\/\/jobera.com\/?p=12716"},"modified":"2023-11-09T12:12:13","modified_gmt":"2023-11-09T12:12:13","slug":"employee-turnover-statistics","status":"publish","type":"post","link":"https:\/\/jobera.com\/resources\/employee-turnover-statistics\/","title":{"rendered":"49+ Employee Turnover Statistics and Trends [2026]"},"content":{"rendered":"\n<p>Why do <strong>employees<\/strong> <strong>quit<\/strong> their jobs?<\/p>\n\n\n\n<p>Is it because they got a <strong>better offe<\/strong>r, or are they just <strong>unhappy with their current roles<\/strong>?<br><br>Whatever the answer is, <strong>voluntary employee turnover costs<\/strong> US industries <strong>$1 trillion<\/strong>.<\/p>\n\n\n\n<p>More than <strong>4 million US employees quit<\/strong> their jobs<strong> each year<\/strong>.<\/p>\n\n\n\n<p>Understanding why employees leave can help<strong> organizations improve their retention efforts<\/strong>.&nbsp;<\/p>\n\n\n\n<p>Here are some <strong>employee turnover statistics<\/strong> to help you gain more insight into this pressing problem:<\/p>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\"><nav><ul><li class=\"\"><a href=\"#top-employee-turnover-statistics-editors-pick\">Top Employee Turnover Statistics: Editor\u2019s Pick<\/a><\/li><li class=\"\"><a href=\"#general-employee-turnover-statistics\">General Employee Turnover Statistics<\/a><\/li><li class=\"\"><a href=\"#turnover-statistics-by-demography\">Turnover Statistics by Demography<\/a><\/li><li class=\"\"><a href=\"#turnover-statistics-by-industry\">Turnover Statistics by Industry<\/a><\/li><li class=\"\"><a href=\"#how-much-does-employee-turnover-cost-a-company\">How Much Does Employee Turnover Cost a Company?<\/a><\/li><li class=\"\"><a href=\"#why-do-people-quit-their-jobs\">Why Do People Quit Their Jobs?<\/a><\/li><li class=\"\"><a href=\"#what-can-employers-do-to-retain-employees\">What Can Employers Do to Retain Employees?<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"top-employee-turnover-statistics-editors-pick\">Top Employee Turnover Statistics: Editor\u2019s Pick<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>The <strong>average turnover rate<\/strong> in the US between 2022 and 2023 was<strong> 17.3%<\/strong>. [<a href=\"#sources\">1<\/a>]<\/li>\n\n\n\n<li><strong>SMBs have a higher turnover rate<\/strong> than larger organizations. [<a href=\"#sources\">2<\/a>]<\/li>\n\n\n\n<li>According to the US Bureau of Labor Statistics, <strong>the number of total separations in 2023<\/strong> was 5.7 million in August. [<a href=\"#sources\">3<\/a>]<\/li>\n\n\n\n<li>Finding and hiring a replacement costs about <strong>33% of an employee\u2019s annual salary<\/strong>. [<a href=\"#sources\">4<\/a>]<\/li>\n\n\n\n<li>BambooHR\u2019s report states that<strong> 31% of people<\/strong> <strong>quit <\/strong>their jobs in the <strong>first six months<\/strong>. [<a href=\"#sources\">5<\/a>]<\/li>\n\n\n\n<li>Around <strong>60-70%<\/strong> of all turnover is <strong>voluntary<\/strong>. [<a href=\"#sources\">6<\/a>]<\/li>\n\n\n\n<li>In 2020, about<strong> 2.8 million people<\/strong> in the US <strong>quit<\/strong> their jobs<strong> to start their own businesses.<\/strong> [<a href=\"#sources\">7<\/a>]<\/li>\n\n\n\n<li>Over<strong> 1 in 4 US jobs stay unfilled<\/strong> after two months. [<a href=\"#sources\">8<\/a>]<\/li>\n\n\n\n<li><strong>Compensation<\/strong> is the top reason <strong>why Millennials and Gen Zs left a role<\/strong> in the last two years. [<a href=\"#sources\">9<\/a>]<\/li>\n\n\n\n<li><strong>75% of the C-suite<\/strong> are considering quitting for a job that would better support their well-being. [<a href=\"#sources\">10<\/a>]<\/li>\n<\/ol>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"427\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2023\/11\/voluntary-employee-turnover-costs-1024x427.jpg\" alt=\"Voluntary employee turnover costs industries in the US $1 trillion\" class=\"wp-image-12725\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/voluntary-employee-turnover-costs-1024x427.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/voluntary-employee-turnover-costs-300x125.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/voluntary-employee-turnover-costs-768x320.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/voluntary-employee-turnover-costs.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"general-employee-turnover-statistics\">General Employee Turnover Statistics<\/h2>\n\n\n\n<p>Employees are leaving their jobs at a record pace, with<strong> 4.2 million quitting each month<\/strong> in the US. This is costing companies billions of dollars in lost productivity and recruitment costs.<\/p>\n\n\n\n<p>Here are some general employee turnover statistics:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-many-job-openings-are-currently-in-the-us\">How many job openings are currently in the US?<\/h3>\n\n\n\n<p>By the end of <strong>August 2023, there were 9.61 million job openings<\/strong> in the United States. This was almost 0.69 million more than the previous months. [<a href=\"#sources\">11<\/a>]<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"whats-the-average-number-of-years-a-person-stays-in-their-job\">What\u2019s the average number of years a person stays in their job?<\/h3>\n\n\n\n<p>According to the Bureau of Labor Statistics, an employee stays with the same organization for <strong>about 4.1 years.<\/strong> [<a href=\"#sources\">12<\/a>]<\/p>\n\n\n\n<p>However, this number varies depending on many factors, including <strong>industry, age, and experience. <\/strong>For example, <strong>workers in the public sector tend to stay in their jobs longer<\/strong> than workers in the private sector.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"about-30-of-people-quit-their-jobs-in-the-first-three-months-13\">About 30% of people quit their jobs in the first three months [<a href=\"#sources\">13<\/a>]<\/h3>\n\n\n\n<p>A third of employees leave their jobs in the <strong>first 60 days<\/strong>.<\/p>\n\n\n\n<p><strong>16%<\/strong> of workers<strong> quit within the first week<\/strong> of their employment. [<a href=\"#sources\">14<\/a>]<\/p>\n\n\n\n<p><strong>17% leave<\/strong> their companies <strong>in the first month<\/strong> of their onboarding.&nbsp;<\/p>\n\n\n\n<p>This shows that <strong>if the onboarding experience isn\u2019t great, employees <\/strong>are more likely to <strong>leave the organization<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-did-the-pandemic-affect-turnover-rates\">How did the pandemic affect turnover rates?<\/h3>\n\n\n\n<p>Before COVID-19, there were about <strong>3.5 million people quitting their jobs<\/strong>. However, the number <strong>dropped to 1.9 million<\/strong> in April 2020. [<a href=\"#sources\">15<\/a>]&nbsp;<\/p>\n\n\n\n<p>According to SHRM, during the pandemic, employee churn rates reached their <strong>lowest level in nine years.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"63-of-small-businesses-claim-retaining-employees-is-harder-than-hiring-them-16\">63% of small businesses claim retaining employees is harder than hiring them [<a href=\"#sources\">16<\/a>]<\/h3>\n\n\n\n<p>Small businesses find it <strong>challenging to retain employees<\/strong> because of a number of factors, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Limited resources<\/li>\n\n\n\n<li>Heavy workload<\/li>\n\n\n\n<li>Lack of structure&nbsp;<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-columns has-background is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\" style=\"background-color:#fff9ed\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p><strong>If you found this article interesting, you might enjoy these too:<\/strong><\/p>\n\n\n<p>[related_posts_by_tax taxonomies=&#8221;category,post_tag&#8221; posts_per_page=&#8221;5&#8243; orderby=&#8221;post_modified&#8221; title=&#8221;&#8221;]<\/p>\n<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"turnover-statistics-by-demography\">Turnover Statistics by Demography<\/h2>\n\n\n\n<p>Employee turnover rates <strong>vary based on demographic groups<\/strong>, such as age, gender, race, and ethnicity.<\/p>\n\n\n\n<p><strong>Understanding these trends<\/strong> can <strong>help<\/strong> businesses <strong>develop targeted retention strategies.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"turnover-statistics-by-industry\">Turnover Statistics by Industry<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"900\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2023\/11\/trurnover-rate-by-industry.jpg\" alt=\"turnover rate by industry\" class=\"wp-image-12728\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/trurnover-rate-by-industry.jpg 800w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/trurnover-rate-by-industry-267x300.jpg 267w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/trurnover-rate-by-industry-768x864.jpg 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<p>The turnover rate is <strong>74% in the hospitality sector,<\/strong> making it the industry with the highest turnover rate. [<a href=\"#sources\">17<\/a>]<\/p>\n\n\n\n<p>The <strong>retail sector<\/strong> has the second-highest turnover rate <strong>(61%).<\/strong><\/p>\n\n\n\n<p><strong>Seasonal demand, fluctuating working hours, limited growth opportunities, and lower wages <\/strong>are some of the factors that drive turnover in the hospitality and retail sectors.<\/p>\n\n\n\n<p>Check out the churn rates across different industries:&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Industry<\/strong><\/th><th><strong>Turnover Rate<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Hospitality&nbsp;<\/td><td>74%<\/td><\/tr><tr><td>Retail Sector<\/td><td>61%<\/td><\/tr><tr><td>Construction<\/td><td>57%<\/td><\/tr><tr><td>Transportation, Trade, and Utilities<\/td><td>55%<\/td><\/tr><tr><td>Manufacturing<\/td><td>40%<\/td><\/tr><tr><td>E-Commerce<\/td><td>29%<\/td><\/tr><tr><td>IT<\/td><td>25%<\/td><\/tr><tr><td>Financial Services<\/td><td>25%<\/td><\/tr><tr><td>Healthcare<\/td><td>21%<\/td><\/tr><tr><td>Entertainment<\/td><td>19%<\/td><\/tr><tr><td>Advertising<\/td><td>18%<\/td><\/tr><tr><td>Engineering<\/td><td>14%<\/td><\/tr><tr><td>Automobile&nbsp;<\/td><td>12%<\/td><\/tr><tr><td>Oil and Gas&nbsp;<\/td><td>12%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Turnover is <strong>lowest in government organizations<\/strong>, at 8%.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"turnover-rate-by-age\">Turnover rate by age<\/h3>\n\n\n\n<p>The average tenure of <strong>baby boomers is about 10 years<\/strong>. [<a href=\"#sources\">18<\/a>]<\/p>\n\n\n\n<p><strong>Gen Z employees<\/strong> don\u2019t work with the same organization for more than <strong>1.2 years<\/strong>.&nbsp;<\/p>\n\n\n\n<p>Here is the breakdown of <strong>average tenures among different age groups<\/strong>:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Age<\/strong><\/th><th><strong>Median Tenure (Years)<\/strong><\/th><\/tr><\/thead><tbody><tr><td>20-24<\/td><td>1.2<\/td><\/tr><tr><td>25-34<\/td><td>2.8<\/td><\/tr><tr><td>35-44<\/td><td>4.7<\/td><\/tr><tr><td>45-54<\/td><td>6.9<\/td><\/tr><tr><td>55-64<\/td><td>9.8<\/td><\/tr><tr><td>65 years and over<\/td><td>10<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"turnover-rate-by-gender-and-ethnicity\">Turnover rate by gender and ethnicity<\/h3>\n\n\n\n<p>On average, <strong>men have longer tenures<\/strong> than women.<\/p>\n\n\n\n<p><strong>28% of male employees<\/strong> have a tenure of <strong>more than 10 years<\/strong>, as opposed to <strong>26%<\/strong> of female employees. [<a href=\"#sources\">12<\/a>]<\/p>\n\n\n\n<p>In 2022, <strong>men <\/strong>worked with the same employer for about<strong> 4.3 years<\/strong>, while <strong>women<\/strong> had a tenure of <strong>3.8 years<\/strong>.<\/p>\n\n\n\n<p>What is the impact of ethnicity on tenure? Find out through this table:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Ethnicity&nbsp;<\/strong><\/th><th><strong>% Of People with a Tenure of 10 Years<\/strong><\/th><\/tr><\/thead><tbody><tr><td>White&nbsp;<\/td><td>28%<\/td><\/tr><tr><td>Black<\/td><td>24%<\/td><\/tr><tr><td>Asians<\/td><td>22%<\/td><\/tr><tr><td>Hispanics<\/td><td>21%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-much-does-employee-turnover-cost-a-company\">How Much Does Employee Turnover Cost a Company?<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"427\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-replacement-costs-1024x427.jpg\" alt=\"replacing an employee can cost employers about $4100\" class=\"wp-image-12730\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-replacement-costs-1024x427.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-replacement-costs-300x125.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-replacement-costs-768x320.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/employee-replacement-costs.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>According to a study by the Society for Human Resource Management, <strong>the average cost of replacing an employee is<\/strong> <strong>$4,129<\/strong>. This includes the <strong>cost of hiring<\/strong> and<strong> training<\/strong> a new employee, as well as the <strong>lost productivity<\/strong>.<\/p>\n\n\n\n<p>The breakdown of turnover costs includes,<\/p>\n\n\n\n<p><strong>Hiring costs:<\/strong> <strong>Hiring <\/strong>a new employee <strong>costs about $4700<\/strong>. This amount might vary depending on the <strong>signing bonus and relocation charges<\/strong>. [<a href=\"#sources\">19<\/a>]<\/p>\n\n\n\n<p><strong>Training costs: <\/strong>Training costs can amount to <strong>$986<\/strong>. [<a href=\"#sources\">20<\/a>]<\/p>\n\n\n\n<p><strong>Time to full productivity<\/strong>: If it takes three months to fully onboard a new employee, the cost is <strong>25% of their annual pay.<\/strong> If it\u2019s <strong>six months<\/strong>, it can cost the company <strong>50% of the employee\u2019s annual pay<\/strong>.<\/p>\n\n\n\n<p><strong>Temporary employees and overtime:<\/strong> Hiring temps or the <strong>overtime of existing employees <\/strong>is also part of turnover costs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"why-do-people-quit-their-jobs\">Why Do People Quit Their Jobs?<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2023\/11\/top-causes-of-turnover-1024x768.jpg\" alt=\"top causes of turnover\" class=\"wp-image-12733\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/top-causes-of-turnover-1024x768.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/top-causes-of-turnover-300x225.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/top-causes-of-turnover-768x576.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/top-causes-of-turnover.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>56% of people say <strong>unclear job responsibilities<\/strong> would cause them to walk away from an opportunity.<\/li>\n\n\n\n<li>46% of workers <strong>feel less connected <\/strong>to their company. [<a href=\"#sources\">15<\/a>]<\/li>\n\n\n\n<li>According to McKinsey and Company, 41% of people quit their jobs due to a <strong>lack of career development and advancement.<\/strong> [<a href=\"#sources\">7<\/a>]<\/li>\n\n\n\n<li>35% of employees switch jobs for <strong>better compensation and benefits<\/strong>. [<a href=\"#sources\">15<\/a>]<\/li>\n\n\n\n<li>34% exit their companies because of <strong>uninspiring leaders<\/strong>. [<a href=\"#sources\">7<\/a>]<\/li>\n\n\n\n<li>31% move on because of a <strong>lack of meaningful work. <\/strong>[<a href=\"#sources\">7<\/a>]<\/li>\n\n\n\n<li>29% quit due to <strong>unsustainable work expectations<\/strong>. [<a href=\"#sources\">7<\/a>]<\/li>\n\n\n\n<li><strong>Unreliable coworkers<\/strong> and<strong> lack of flexibility<\/strong> are why 26% leave their companies. [<a href=\"#sources\">7<\/a>]<\/li>\n\n\n\n<li><strong>Lack of support for health and well-being<\/strong> makes more than 25% of employees quit.<\/li>\n\n\n\n<li>25% leave their roles because of a <strong>lack of work-life balance.<\/strong> [<a href=\"#sources\">7<\/a>]<\/li>\n\n\n\n<li>14% of workers quit due to a <strong>non-inclusive community<\/strong>. [<a href=\"#sources\">7<\/a>]<\/li>\n\n\n\n<li>13% quit because of <strong>unsafe work environments.<\/strong> [<a href=\"#sources\">7<\/a>]<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-can-employers-do-to-retain-employees\">What Can Employers Do to Retain Employees?<\/h2>\n\n\n\n<p><strong>66% of employees<\/strong> are waiting to review their<strong> company&#8217;s new benefit offerings <\/strong>before deciding whether to stay.<\/p>\n\n\n\n<p><strong>42% of organizations <\/strong>that saw high turnover in early 2021 <strong>implemented remote work or flexibility options<\/strong> to reduce turnover. [<a href=\"#sources\">21<\/a>]<\/p>\n\n\n\n<p>42% of employees with <strong>access to mental health benefits<\/strong> are more likely to stay at their current organization.&nbsp;<\/p>\n\n\n\n<p><strong>Effective onboarding <\/strong>makes new hires feel <strong>18 times more committed <\/strong>to their employers. [<a href=\"#sources\">22<\/a>]<\/p>\n\n\n\n<p>Employers who received a <strong>highly effective offer letter<\/strong> were 17 times more likely to feel emotionally connected to their organization. [<a href=\"#sources\">22<\/a>]<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"427\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2023\/11\/feedback-for-engaged-employees-1024x427.jpg\" alt=\"highly-engaged employees receive feedback at least once a week\" class=\"wp-image-12735\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/feedback-for-engaged-employees-1024x427.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/feedback-for-engaged-employees-300x125.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/feedback-for-engaged-employees-768x320.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2023\/11\/feedback-for-engaged-employees.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Highly engaged workers <\/strong>stay in their jobs longer than unengaged ones.&nbsp;<\/p>\n\n\n\n<p>A survey by Officevibe states that <strong>43% of highly engaged employees receive feedback<\/strong> at least once a week. [<a href=\"#sources\">23<\/a>]<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"fa-qs-about-employee-turnover\">FAQs about Employee Turnover<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-is-employee-turnover\">What is employee turnover?<\/h3>\n\n\n\n<p>Employee turnover is the<strong> percentage of employees who leave a company<\/strong> during a particular time period. It is a <strong>key metric for measuring employee engagement <\/strong>and satisfaction.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-can-employers-do-to-reduce-employee-turnover\">What can employers do to reduce employee turnover?<\/h3>\n\n\n\n<p>Employers can reduce employee turnover by investing in<strong> retention strategies<\/strong>, such as:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Offering competitive salaries and benefits<\/li>\n\n\n\n<li>Providing opportunities for professional development and advancement<\/li>\n\n\n\n<li>Creating a positive and supportive work environment<\/li>\n\n\n\n<li>Getting regular feedback from employees and addressing their concerns<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-do-i-calculate-employee-turnover\">How do I calculate employee turnover?<\/h3>\n\n\n\n<p>Turnover is calculated by <strong>dividing the number of employees who left in a year<\/strong> by the <strong>average number of employees at the beginning of the year<\/strong>. The number is then multiplied by 100 to get the percentage.<\/p>\n\n\n\n<p><strong>Let\u2019s look at an example: <\/strong>At the <strong>start of a year<\/strong>, there are <strong>100 employees<\/strong> in a company. During this year, <strong>5 employees left <\/strong>and <strong>20<\/strong> joined. At the end of this period, there would be <strong>115 <\/strong>people working in the organization.<\/p>\n\n\n\n<p>However, when calculating turnover, <strong>new hires are not taken into account.<\/strong> We only consider the average number of employees who were with the company at the start of the year. So in this case,<strong> turnover would be 5%.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-do-you-retain-top-performers\">How do you retain top performers?<\/h3>\n\n\n\n<p>Employers can retain top talent by:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Offering <strong>competitive salaries and benefits<\/strong><\/li>\n\n\n\n<li>Providing opportunities for <strong>professional development and advancement<\/strong><\/li>\n\n\n\n<li>Creating a <strong>positive and supportive work environment<\/strong><\/li>\n\n\n\n<li><strong>Recognizing and rewarding employees<\/strong> for their accomplishments<\/li>\n\n\n\n<li>Investing in <strong>employee well-bein<\/strong>g<\/li>\n\n\n\n<li>Building a <strong>strong company culture<\/strong><\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-are-the-best-practices-for-onboarding-new-employees\">What are the best practices for onboarding new employees?<\/h3>\n\n\n\n<p>Employers should have a clear onboarding plan in place. It can include:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Welcoming<\/strong> new employees and<strong> introducing them to their team<\/strong> members<\/li>\n\n\n\n<li>Providing new employees with the <strong>information and resources they need<\/strong> to succeed in their roles<\/li>\n\n\n\n<li><strong>Setting clear expectations <\/strong>and goals<\/li>\n\n\n\n<li><strong>Checking in with new employees regularly<\/strong> to see how they are doing and to address any concerns&nbsp;<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"summary\">Summary<\/h2>\n\n\n\n<p>Employee turnover is a serious <strong>problem for businesses of all sizes<\/strong>. It can have a significant <strong>impact on productivity, profitability, and culture<\/strong>.<\/p>\n\n\n\n<p>The good news is that there are a number of things that <strong>employers can do to reduce employee turnover.<\/strong> Learning the<strong> latest employee statistics<\/strong> can help organizations invest in retention strategies.&nbsp;<\/p>\n\n\n\n<p><strong>Check out our website<\/strong> for more statistics and trends on various topics.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sources\">Sources<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>PR Newswire. <a href=\"https:\/\/www.prnewswire.com\/news-releases\/2023-wem-report-reveals-71-of-organizations-are-challenged-with-employee-turnover-and-early-attrition-301789867.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">2023 WEM Report Reveals 71% of Organizations are Challenged with Employee Turnover and Early Attrition<\/a><\/li>\n\n\n\n<li>LinkedIn. <a href=\"https:\/\/www.linkedin.com\/business\/talent\/blog\/talent-strategy\/industries-with-the-highest-turnover-rates\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Industries with the Highest (and Lowest) Turnover Rates<\/a><\/li>\n\n\n\n<li>&nbsp;US Bureau of Labor Statistics. <a href=\"https:\/\/www.bls.gov\/news.release\/jolts.nr0.htm\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Job Openings and Labor Turnover Summary<\/a><\/li>\n\n\n\n<li>Indeed. <a href=\"https:\/\/www.indeed.com\/hire\/c\/info\/estimating-cost-of-higher-turnover\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Estimating the Cost of High Employee Turnover<\/a><\/li>\n\n\n\n<li>LinkedIn. <a href=\"https:\/\/www.linkedin.com\/pulse\/why-so-many-employees-quit-within-first-6-months-dr-suunil-bothraa\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Why Are Your Employees Leaving in the First Six Months?<\/a><\/li>\n\n\n\n<li>Forbes. <a href=\"https:\/\/www.forbes.com\/sites\/adp\/2018\/03\/19\/why-are-employees-leaving-the-economy-is-only-part-of-the-reason\/?sh=16b2373f378d\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Why Are Employees Leaving? The Economy Is Only Part Of The Reason<\/a><\/li>\n\n\n\n<li>McKinsey &amp; Company. <a href=\"https:\/\/www.mckinsey.com\/capabilities\/people-and-organizational-performance\/our-insights\/the-great-attrition-is-making-hiring-harder-are-you-searching-the-right-talent-pools\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">The Great Attrition is making hiring harder. Are you searching the right talent pools?<\/a><\/li>\n\n\n\n<li>FlexJobs. <a href=\"https:\/\/www.flexjobs.com\/employer-blog\/quarter-us-jobs-remain-unfilled-more-than-60-days\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Why a Quarter of U.S. Jobs Remain Unfilled for More Than 60 Days<\/a><\/li>\n\n\n\n<li>Deloitte. <a href=\"https:\/\/www2.deloitte.com\/content\/dam\/insights\/articles\/glob175227_global-millennial-and-gen-z-survey\/Gen%20Z%20and%20Millennial%20Survey%202022_Final.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Striving for balance, advocating for change<\/a><\/li>\n\n\n\n<li>Deloitte. <a href=\"https:\/\/www2.deloitte.com\/xe\/en\/insights\/topics\/talent\/workplace-well-being-research.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">As workforce well-being dips, leaders ask: What will it take to move the needle?<\/a><\/li>\n\n\n\n<li>Statista.<a href=\"https:\/\/www.statista.com\/statistics\/217943\/monthly-job-openings-in-the-united-states\/#:~:text=U.S.%20monthly%20job%20openings%202021%2D2023&amp;text=By%20the%20last%20business%20day,The%20data%20are%20seasonally%20adjusted.\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"> Monthly job openings in the United States from August 2021 to August 2023<\/a><\/li>\n\n\n\n<li>US Bureau of Labor Statistics. <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/tenure.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Employee Tenure in 2022<\/a><\/li>\n\n\n\n<li>LinkedIn. <a href=\"https:\/\/www.linkedin.com\/pulse\/boost-your-employee-retention-first-90-days-employbridge\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Boost Your Employee Retention in the First 90 Days!<\/a><\/li>\n\n\n\n<li>Employee Cycle. <a href=\"https:\/\/www.employeecycle.com\/voluntary-employee-turnover\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">What is Voluntary Employee Turnover?<\/a><\/li>\n\n\n\n<li>SHRM. <a href=\"https:\/\/www.shrm.org\/resourcesandtools\/hr-topics\/talent-acquisition\/pages\/turnover-tsunami-expected-once-pandemic-ends.aspx\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Turnover \u2018Tsunami\u2019 Expected Once Pandemic Ends<\/a><\/li>\n\n\n\n<li>Zenefits. <a href=\"https:\/\/www.zenefits.com\/workest\/employee-turnover-is-a-more-costly-problem-than-researchers-thought\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Research: Employee Retention a Bigger Problem Than Hiring for Small Businesses?<\/a><\/li>\n\n\n\n<li>Engagedly. <a href=\"https:\/\/engagedly.com\/blog\/employee-turnover-rate-by-industry\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Employee Turnover Rate By Industry<\/a><\/li>\n\n\n\n<li>&nbsp;U.S. Bureau of Labor Statistics. <a href=\"https:\/\/www.statista.com\/statistics\/1174504\/us-employed-workers-median-years-tenure\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Table 1. Median years of tenure with current employer for employed wage and salary workers by age and sex, selected years, 2012-2022<\/a><\/li>\n\n\n\n<li>SHRM. <a href=\"https:\/\/www.shrm.org\/resourcesandtools\/hr-topics\/talent-acquisition\/pages\/the-real-costs-of-recruitment.aspx\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">The Real Costs of Recruitment<\/a><\/li>\n\n\n\n<li>Training Mag.<a href=\"https:\/\/trainingmag.com\/2018-training-industry-report\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"> 2018 Training Industry Report<\/a><\/li>\n\n\n\n<li>SHRM. <a href=\"https:\/\/www.shrm.org\/resourcesandtools\/tools-and-samples\/hr-qa\/pages\/benefits-to-improve-employee-retention.aspx\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">What benefits can employers offer to improve employee retention?<\/a><\/li>\n\n\n\n<li>BambooHR. <a href=\"https:\/\/www.bamboohr.com\/blog\/onboarding-infographic\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">These 10+ Onboarding Statistics Reveal What New Employees Really Want in 2023<\/a><\/li>\n\n\n\n<li>Officevibe. <a href=\"https:\/\/officevibe.com\/blog\/infographic-employee-feedback\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Statistics on the importance of employee feedback<\/a><\/li>\n<\/ol>\n\n\n<p>[ratemypost]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why do employees quit their jobs? Is it because they got a better offer, or are they just unhappy with\u2026<\/p>\n","protected":false},"author":5,"featured_media":12737,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50],"tags":[60,161],"class_list":["post-12716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-statistics","tag-employee-happiness","tag-retention"],"_links":{"self":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/posts\/12716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/comments?post=12716"}],"version-history":[{"count":0,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/posts\/12716\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/media\/12737"}],"wp:attachment":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/media?parent=12716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/categories?post=12716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/tags?post=12716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}