Employee Turnover Report in Construction Industry 2013-2023

Retensa: Talent Technology Solutions
www.retensa.com | 212.545.1280
EMPLOYEE
TURNOVER TRENDS
10-Year Industry Tracking Report: 2023 Edition
Region: United States
Data Range: 2013 - 2023

2
US Employee Turnover Report Overview
Data extracted from United States Bureau of Labor Statistics (Employment & Unemployment Release), September 2023
This Turnover Trends report contains the average monthly and annual Voluntary
employee turnover rates across major U.S. industries over the past 10 years.
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.
The heat maps herein indicate the monthly turnover rate during the 10-year period from 2013 to 2023
Darker red indicates higher turnover rates compared to same month over past 10 years
Darker green indicates lower turnover rates compared to same month over the past 10 years

3
Employee Turnover Rate Definition
EMPLOYEE
TURNOVE
RATE
=
Number of Employees Separated
Average # of Active employees during Time
Period*
X 100
Aggregate turnover ≠ Actual 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
Distinguish different “Types” of Turnover:
• Voluntary
• Involuntary
• Retirees
• Transfers
• Interns
• Contract Positions
(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

www.retensa.com | 212.545.1280 4
Executive Summary: 2023 State
In the near future,
Voluntary Employee Turnover is likely to:
• Flatten out from 2022’s 70-year highs in transportation,
accommodation, education and manufacturing
• Drop slightly in emerging automated industries like
retail, office and clerical, real estate, forestry and mining
• Remain high in healthcare, social service, life sciences,
and software development
Labor trends are currently affected by:
• Slightly increasing unemployment rates from lows
• Cooling real estate activity
• Expansion of global offshoring to developed Central and
South American markets
• Dropping baby boom workforce participation rates
Employee turnover rates will change if:
(Other than significant economic event or natural disaster)
• Decreasing consumer confidence with low holiday
spending
• Unemployment increases more than .5% in a single quarter
• Commercial real estate declines to lower occupancy rates
Employee Turnover is not immediately affected by:
• Geopolitical Instability
• USA off-year Elections (November 2023)
• High profile company bankruptcies
Employee Turnover will be affected long-term by:
• Accelerating automation and integration of AI in front-end
services and products
• Transition out of virtualization/remote work vs. the
unchanging desire by workers for remote or hybrid work
• Autonomous delivery vehicles in transportation
DISCLAIMER: Assertions above are based on proprietary analysis, industry trends, and publicly available information at the time. Retensa considers multiple 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.

5
How Does Forecast Impact Modern Recruiting Strategy?
TREND IMPACT ON RECRUITING TODAY
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

What does Retensa do?
Retensa is a global leader and innovator of
Employee Experience Insights
Employers receive data-driven solutions for predictive analytics. Mined from demographics, key
interactions, and real-time trends, the insights revealed help to create a high performing workforce.
Talent Management Services
• Cost of Turnover Analysis
• Exit Interview Outsourcing
• Merger & Acquisition Tracking
• Retention Skills Training
• Talent Analytics Program Design
• Turnover Diagnostic
Organizations in 59 countries and 21 languages choose Retensa for:
Cloud Software Technology
• ExitPro® Exit Interview Management
• HRMetricsPro™ Talent Analytics Suite
• TalentPulse® Employee Experience Platform
• Candidate, New Hire, Engagement, Stay Interview,
Diversity Surveys, 30-60-90 Surveys, etc.
• 360 Degree Assessments, Upwards Evaluations,
Performance Checks
• Employee Pulse Feedback

7
Turnover Rates
2013 - 2023

Industry Turnover Rate (%): Construction (USA)
Trend line
Turnover
Rate
(%)
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
BACK TO INDEX
Turnover Rate (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ANNUAL
2013 2.2 1.6 1.4 1.6 1.6 1.8 2.1 2.1 1.7 1.6 0.9 1.0 19.7
2014 1.4 1.3 1.4 1.8 2.1 2.0 2.1 2.5 1.8 1.7 1.0 1.6 21.0
2015 1.6 1.4 1.7 2.0 1.9 1.8 2.0 2.1 2.0 1.5 1.4 1.6 21.0
2016 1.3 1.2 2.0 1.8 1.9 1.8 2.3 2.7 1.8 1.9 1.8 1.6 22.1
2017 2.1 1.9 2.3 2.4 2.1 2.0 2.6 2.8 2.6 2.6 1.5 1.7 26.6
2018 2.1 1.8 2.1 2.5 2.2 2.4 3.2 3.0 2.4 2.4 2.0 2.0 28.2
2019 2.5 2.3 1.9 2.0 2.1 2.5 2.8 2.8 2.6 2.6 1.7 1.8 27.6
2020 2.1 1.6 1.5 1.4 1.3 1.9 2.5 1.9 2.3 2.0 1.8 1.9 22.2
2021 1.8 1.9 2.3 2.4 2.1 2.4 2.8 2.9 2.7 2.5 2.5 2.0 28.3
2022 2.4 1.8 3.3 2.9 2.7 2.2 3.0 3.4 2.1 2.0 1.3 1.6 28.7
2023 2.3 1.6 1.6 2.1 2.5 2.3 2.9
0
5
10
15
20
25
30
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Rollover Yearly Turnover Rate (%) from 2013 to 2023

Discover the next generation of People Analytics solutions:
Employee Experience Platform
www.TalentPulse.com
Exit Interview & Separation Management
www.ExitPro.com
Employee Retention Strategies
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Employee Experience + Predictive Analytics = Retention Solutions

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Interview Software
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Employee Turnover Report in Construction Industry 2013-2023

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