112 Employee Turnover Statistics: 2021 Causes, Cost & Prevention Data is a solid survey by FinancesOnline that covers the basics of turnover – voluntary and involuntary. It would make an excellent aid in workforce planning. A few highlighted stats include:
- In the US, the annual employee turnover rate is 18%. (SHRM, n.d.)
- A 2020 study revealed a similar but higher average turnover rate of 20%. (Aon, 2020)
- As of 2021, the total number of employee separations reached 5.5 million. This includes turnover from resignations, layoffs, retirement, transfers, and discharges. (U.S. Bureau of Labor Statistics, 2021)
The article highlights types of turnover, turnover by industry & occupation, tenure and specifically addresses some COVID-19 issues. It’s really a comprehensive discussion of employee turnover statistics, detailing its common causes, average cost, and ways to prevent it.
Read more from the source Financesonline.com: 112 Employee Turnover Statistics: 2021 Causes, Cost & Prevention Data, Published by: Louie Andre