Your company should also focus on how well you maintain employee satisfaction. Does My Company Have a Good Employee Retention Rate? Find your company’s potential cost savings. Transportation, warehousing and utilities: 3%Ī high turnover rate is costly for businesses.4 Let’s take a look at some of the industries with the highest turnover rates as of April 2023: 5 Poor compensation and benefits are some common reasons for high employee turnover rates. Industries With the Highest Turnover Rates Industries among the lowest turnover rates as of April 2023 include: 3 Government jobs typically have the lowest employee turnover rates across all industries. Let’s take a look at the industries with the best employee retention rates and worst employee retention rates. When considering high turnover across your company, the costs may quickly add up and spill over to operational efficiency, customer service and workplace morale Which Industries Have the Best and Worst Employee Retention Rates? The average cost to replace an employee can range anywhere from half to two times their salary, according to Gallup 2. Bureau of Labor Statistics, the average employee quit rate across all industries was 2.4% in April 2023. What is the average employee retention rate?Īccording to the U.S.How much money is high employee turnover costing your business?.You likely have a few questions about employee retention in your industry. This makes measuring employee turnover rates more critical for employers.
In many industries, the cost of losing quality talent is rising, thanks to increasingly competitive labor markets. Employee turnover or attrition can be expensive for companies.
0 kommentar(er)
