Turnover Continues to Rise Steadily, Up More Than 3.5 Percentage Points Since 2014
WALTHAM, MA (November 13, 2018) – Workplace turnover continues to increase year-over-year, according to a recently published report run by the Compdata consulting practice at Salary.com, the leading SaaS provider of cloud-based compensation data and analytics. According to this year’s report, total workplace turnover in the U.S. hit a whopping 19.3% — rising nearly a full percentage point from 2017 and more than 3.5 percentage points since 2014.
The annual Turnover Report captures valuable, industry- and region-specific insights related to both total and voluntary turnover. This year’s Turnover Report contains turnover data from nearly 25,000 participating organizations of varying sizes in the United States, ranging from companies with less than 100 employees to as many as 5,000+ employees.
“Since 2014, we have seen workplace turnover steadily increase, with a 22.9% increase over the past five years. In today’s modern War for Talent, the number of available jobs outnumber the people searching for work and, because of this, companies must to do everything in their power to attract, engage, and retain top talent,” said Kent Plunkett, CEO of Salary.com. “Most studies report that employees leave their current jobs for better-paying positions, and one of the best ways to combat turnover is to ensure that pay in your organization is both externally competitive and internally equitable. At Salary.com, we are proud to help organizations achieve this goal using our award-winning CompAnalyst platform.”
The survey also takes a deeper dive into U.S. turnover segmented by industry and geographic region. Some interesting statistics include:
– By Industry: Hospitality (31.8%), Healthcare (20.4%), and Manufacturing & Distribution (20%) had the highest rates of total turnover. In contrast, Utilities (10.3%), Insurance (12.8%), and Banking & Finance (16.7%) had the lowest.
– By U.S. Geographic Region: South Central (20.4%) and the West (20.3%) had the highest rates of total turnover. The Northeast (17.3%) had the lowest rate of total turnover in the country.
Read the 2018 Turnover Report here: https://www2.salary.com/turnover.
Experts Available for Interviews
Salary.com and Compdata executives are available for interviews on this topic. To schedule an interview, contact Victoria Waldron at 781-454-6822 or [email protected]
Salary.com is the leading SaaS provider of cloud-based compensation market data and analytics. Founded in 1999, the Company serves approximately 4,000 business-to-business customers worldwide with its market-leading CompAnalyst platform, designed to accelerate compensation workflows and improve efficiency. Through its Salary Wizard and consumer website, Salary.com delivers continually updated, reliable market pay data and career content to hundreds of thousands of consumers each year. The Company is committed to helping organizations drive company success by aligning compensation practices with recruiting, performance and development initiatives through easy-to-access data and meaningful insights. For more information, please visit the company website at www.salary.com.