EMPLOYEE TURNOVER TRENDS 10-Year Industry Tracking Report: 2022 Edition
Region: United States Data Range: 2012 - 2021 www.exitpro.com | 212.545.1280
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Introduction www.exitpro.com | 212.545.1280
Introduction This report contains the average monthly and annual Voluntary employee turnover rates across major U.S. industries over the past 10 years.
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Compare your organization’s turnover rate with its industry average. See if your employees quit at a higher, similar, or lower rate than your competitors.
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TURNOVER HERE
The heat maps herein indicate the monthly turnover rate during the 10-year period from 2012 to 2021 Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
Data extracted from United States Bureau of Labor Statistics (Employment & Unemployment Release), November 2021
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Employee Turnover Rate Definition EMPLOYEE TURNOVER = RATE
Number of Employees Separated X
Average # of Active employees during Time Period*
Aggregate turnover ≠ Actual Turnover • • •
•
Distinguish different “Types” of Turnover:
Not all turnover is created equal Aggregate turnover rate alone can be misleading Target key employee populations to pinpoint opportunities & areas of focus and for accurate reference for impact Examples: Engineers in London…Millennial Sales Associates… Women Directors and above…3+ Year Tenured Accountants
Remember: Precision produces prediction
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• • • • • •
Voluntary Involuntary Retirees Transfers Interns Contract Positons
(Are you asking each Type the right questions when they leave?) *Time Period = Use Daily Average or (Active # on 1st day of period + # on Last day of period) / 2
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Executive Summary www.exitpro.com | 212.545.1280
Executive Summar y: 2022 Forecast • In the near future, Voluntary Employee Turnover is likely to: •
Remain at elevated levels
• This is due to: • • • • •
Record low unemployment in most industries High availability of financial capital Above average GDP growth Accelerating Salary Inflation Shrinking labor pool
Turnover will not immediately be affected by: • •
Self-Driving Cars (in Trucking/Transportation) Vaccine Mandates
Turnover will be affected long-term by: • •
Expanding virtualization/remote work Accelerating robotics deployment (in Manufacturing, Mining,
•
Renewal energy industry growth
and Warehousing)
• National turnover rates will change if: •
(Other than significant economic event or natural disaster)
• • •
Immigration quotas increase substantially (= Turnover) Consumer spending decreases significantly (= Turnover) Infrastructure legislation fails to pass (= Turnover)
DISCLAIM ER: Assertions above are based on proprietary analysis and publicly available information at the time. Retensa considers multiple varied economic indicators, consumer trends, and technological advancements to form these opinions, however makes no warranty on the information provided, and no guarantee is expressed or implied.
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How Does Forecast Impact Our Recruiting Strategy? 1. High Turnover =
Higher job fills and overhead costs
2. High Job Demand = Salary inflation, benefits war, rejected offers 3. Low Talent Supply = Longer Time-to-Fill, lower Quality of Hire 4. Unable to Fill Vacant Positions = Higher Stress and workload on existing staff 5. Poor Work-Life Balance = Work-Life “Blur”, more mistakes, burnout, higher turnover
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Reference www.exitpro.com | 212.545.1280
What is ExitPro?
ExitPro is the leading provider of
Secure Exit Interview Software ExitPro, created from the most successful exit interview survey questions, automates and streamlines exit interview templates for 50 to 50,000 employees. ExitPro’s exit interview forms are available in 18 languages in 56 countries, with customizable Exit Reports and Advanced Dashboard analytics to predict staff turnover. Additional Live Voice (phone), SMS Text, & Kiosk services are available.
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Who is Retensa? • Internationally-recognized employee retention experts by:
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Who is Retensa? Organizations in 56 countries and 18 languages choose Retensa for:
Services • • • • • •
Cost of Turnover Analysis Exit Interview Outsourcing Merger & Acquisition Tracking Retention Skills Training Talent Analytics Program Design Turnover Diagnostic
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Cloud Software Technology • ExitPro® Exit Interview Management • HRMetricsPro™ Talent Analytics Suite • TalentPulse® Unified Survey Platform • Candidate, New Hire, Engagement, Stay Interview, Diversity Surveys, 3060-90 Surveys, etc. • 360 Degree Assessments, Upwards Evaluations, Performance Checks • Employee Pulse Feedback ExitPro: Exit Interview Software
Where does ExitPro manage Exit Inter views?
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A Histor y of Cutting Edge Research: Retention Thought -Leadership
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Turnover Rates www.exitpro.com | 212.545.1280
Table of Contents (Index) Industries covered include the following (quicklinks below will access your industry): 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14.
Arts & Entertainment Construction Education Finance & Insurance Government Healthcare Hotels & Restaurants Manufacturing Durable Goods Manufacturing Non-Durable Goods Mining & Logging Professional Services Real Estate Retail Transportation
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Industr y Turnover Rate (%): Ar ts & Enter tainment (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
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Industr y Turnover Rate (%): Construction (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
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Industr y Turnover Rate (%): Education (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
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Industr y Turnover Rate (%): Finance & Insurance (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
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Industr y Turnover Rate (%): Government (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
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Industr y Turnover Rate (%): Healthcare (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
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21
Industr y Turnover Rate (%): Hotels & Restaurants (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
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Industr y Turnover Rate (%): Manufacturing Durable Goods (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
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Industr y Turnover Rate (%): Manufacturing Non-Durable Goods (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
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Industr y Turnover Rate (%): Manufacturing Total (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
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Industr y Turnover Rate (%): Mining & Logging (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
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Industr y Turnover Rate (%): Professional Ser vices (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
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Industr y Turnover Rate (%): Real Estate (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
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Industr y Turnover Rate (%): Retail (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
ExitPro: Exit Interview Software
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Industr y Turnover Rate (%): Transpor tation (USA)
To view the full ExitPro Employee Turnover Trends Report Visit Store.ExitPro
The heat map table indicates average monthly and cumulative annual turnover rates
Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years
www.retensa.com || 212.545.1280 www.exitpro.com 212.545.1280
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THANK YOU
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