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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
Retensa: Talent Technology Solutions
www.retensa.com | 212.545.1280
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
Retensa: Talent Technology Solutions
www.retensa.com | 212.545.1280
Employee Turnover Rate Definition
EMPLOYEE
TURNOVER
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
4
Retensa: Talent Technology Solutions
www.retensa.com | 212.545.1280
Want to Calculate Employee Turnover Cost?
CALCULATE
COST OF EMPLOYEE TURNOVER
HERE
CLICK LINK ABOVE to Estimate Your
Total Organization & Per Employee
Turnover Cost Calculation for Free
www.retensa.com | 212.545.1280 5
Retensa: Talent Technology Solutions
www.retensa.com | 212.545.1280
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.
6
Retensa: Talent Technology Solutions
www.retensa.com | 212.545.1280
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
www.retensa.com | 212.545.1280 7
Retensa: Talent Technology Solutions
www.retensa.com | 212.545.1280
Who is Retensa?
Internationally-recognized employee retention experts by:
www.retensa.com | 212.545.1280 8
Retensa: Talent Technology Solutions
www.retensa.com | 212.545.1280
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
www.retensa.com | 212.545.1280 9
Retensa: Talent Technology Solutions
www.retensa.com | 212.545.1280
Where does Retensa manage Employee Insights?
Across 59 countries and 21 languages, Organizations choose Retensa in:
10
Retensa: Talent Technology Solutions
www.retensa.com | 212.545.1280
Turnover Rates
2013 - 2023
www.retensa.com | 212.545.1280 11
Retensa: Talent Technology Solutions
www.retensa.com | 212.545.1280
Industry Turnover Rate (%): Government (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 0.5 0.4 0.4 0.5 0.7 0.9 0.8 1.0 0.6 0.5 0.4 0.5 7.2
2014 0.5 0.4 0.5 0.5 0.8 0.8 0.8 1.2 0.8 0.6 0.4 0.5 7.8
2015 0.6 0.5 0.5 0.5 0.8 1.1 0.9 1.2 0.7 0.6 0.5 0.6 8.5
2016 0.6 0.5 0.6 0.6 0.9 1.4 0.9 1.3 0.8 0.7 0.5 0.5 9.3
2017 0.7 0.5 0.6 0.5 0.9 1.1 0.9 1.2 0.8 0.6 0.6 0.6 9.0
2018 0.7 0.5 0.6 0.6 1.0 1.3 1.0 1.2 0.8 0.7 0.6 0.6 9.6
2019 0.8 0.5 0.6 0.6 1.0 1.3 1.0 1.2 0.9 0.7 0.6 0.7 9.9
2020 0.7 0.6 0.8 0.6 1.1 1.4 1.4 1.5 1.0 1.0 0.6 0.6 11.3
2021 0.6 0.6 0.6 0.7 0.9 1.3 1.2 1.3 1.0 1.0 0.8 0.8 10.8
2022 0.9 0.8 0.9 0.8 1.2 1.7 1.2 1.5 1.1 0.9 0.7 0.8 12.5
2023 0.7 0.6 0.7 0.6 1.0 1.3 1.2
0
2
4
6
8
10
12
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Rollover Yearly Turnover Rate (%) from 2013 to 2023
www.retensa.com | 212.545.1280 12
Retensa: Talent Technology Solutions
www.retensa.com | 212.545.1280
Discover the next generation of People Analytics solutions:
Employee Experience Platform
www.TalentPulse.com
Exit Interview & Separation Management
www.ExitPro.com
Employee Retention Strategies
www.Retensa.com
Retensa
Employee Experience + Predictive Analytics = Retention Solutions
Retensa: Talent Technology Solutions
www.retensa.com | 212.545.1280
THANK YOU
ExitPro Exit
Interview Software
Discover the world’s easiest Talent Analytic solutions:
Retensa Employee
Retention Strategies
TalentPulse Employee
Experience Platform
Gracias
Merci
고맙습니다
谢谢
आपको धन्यवाद
‫لك‬ ‫ا‬ً‫شكر‬
‫תודה‬
Obrigada
Grazie

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Government Employee Turnover Industry Report 2013-2023.pptx

  • 1. 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. 2 Retensa: Talent Technology Solutions www.retensa.com | 212.545.1280 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. 3 Retensa: Talent Technology Solutions www.retensa.com | 212.545.1280 Employee Turnover Rate Definition EMPLOYEE TURNOVER 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
  • 4. 4 Retensa: Talent Technology Solutions www.retensa.com | 212.545.1280 Want to Calculate Employee Turnover Cost? CALCULATE COST OF EMPLOYEE TURNOVER HERE CLICK LINK ABOVE to Estimate Your Total Organization & Per Employee Turnover Cost Calculation for Free
  • 5. www.retensa.com | 212.545.1280 5 Retensa: Talent Technology Solutions www.retensa.com | 212.545.1280 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.
  • 6. 6 Retensa: Talent Technology Solutions www.retensa.com | 212.545.1280 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
  • 7. www.retensa.com | 212.545.1280 7 Retensa: Talent Technology Solutions www.retensa.com | 212.545.1280 Who is Retensa? Internationally-recognized employee retention experts by:
  • 8. www.retensa.com | 212.545.1280 8 Retensa: Talent Technology Solutions www.retensa.com | 212.545.1280 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
  • 9. www.retensa.com | 212.545.1280 9 Retensa: Talent Technology Solutions www.retensa.com | 212.545.1280 Where does Retensa manage Employee Insights? Across 59 countries and 21 languages, Organizations choose Retensa in:
  • 10. 10 Retensa: Talent Technology Solutions www.retensa.com | 212.545.1280 Turnover Rates 2013 - 2023
  • 11. www.retensa.com | 212.545.1280 11 Retensa: Talent Technology Solutions www.retensa.com | 212.545.1280 Industry Turnover Rate (%): Government (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 0.5 0.4 0.4 0.5 0.7 0.9 0.8 1.0 0.6 0.5 0.4 0.5 7.2 2014 0.5 0.4 0.5 0.5 0.8 0.8 0.8 1.2 0.8 0.6 0.4 0.5 7.8 2015 0.6 0.5 0.5 0.5 0.8 1.1 0.9 1.2 0.7 0.6 0.5 0.6 8.5 2016 0.6 0.5 0.6 0.6 0.9 1.4 0.9 1.3 0.8 0.7 0.5 0.5 9.3 2017 0.7 0.5 0.6 0.5 0.9 1.1 0.9 1.2 0.8 0.6 0.6 0.6 9.0 2018 0.7 0.5 0.6 0.6 1.0 1.3 1.0 1.2 0.8 0.7 0.6 0.6 9.6 2019 0.8 0.5 0.6 0.6 1.0 1.3 1.0 1.2 0.9 0.7 0.6 0.7 9.9 2020 0.7 0.6 0.8 0.6 1.1 1.4 1.4 1.5 1.0 1.0 0.6 0.6 11.3 2021 0.6 0.6 0.6 0.7 0.9 1.3 1.2 1.3 1.0 1.0 0.8 0.8 10.8 2022 0.9 0.8 0.9 0.8 1.2 1.7 1.2 1.5 1.1 0.9 0.7 0.8 12.5 2023 0.7 0.6 0.7 0.6 1.0 1.3 1.2 0 2 4 6 8 10 12 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Rollover Yearly Turnover Rate (%) from 2013 to 2023
  • 12. www.retensa.com | 212.545.1280 12 Retensa: Talent Technology Solutions www.retensa.com | 212.545.1280 Discover the next generation of People Analytics solutions: Employee Experience Platform www.TalentPulse.com Exit Interview & Separation Management www.ExitPro.com Employee Retention Strategies www.Retensa.com Retensa Employee Experience + Predictive Analytics = Retention Solutions
  • 13. Retensa: Talent Technology Solutions www.retensa.com | 212.545.1280 THANK YOU ExitPro Exit Interview Software Discover the world’s easiest Talent Analytic solutions: Retensa Employee Retention Strategies TalentPulse Employee Experience Platform Gracias Merci 고맙습니다 谢谢 आपको धन्यवाद ‫لك‬ ‫ا‬ً‫شكر‬ ‫תודה‬ Obrigada Grazie