The first thing you probably want to know is how often the average employee joins and leaves an organization. No need to guess. The stats speak for themselves.
1. 75% of employees may leave within the first five years.
Three-quarters of your staff members don’t see themselves working for you in the next five years. That’s one of the most worrying stats. Given such alarming workplace turnover statistics, you certainly need to have a back-up plan in place—and fast. What are you doing to keep your employees happy or at least content?
2. The average turnover rate 2019 is 3.7%.
(Source: Better Team)
Knowing your average turnover rate as an employer is very important in order to gauge your stability or feasibility as a company. With 3.7% the average turnover rate, anything above that is high. That means you’re venturing onto shaky territory. It’s time to investigate and revise your organizational policies!
3. 15.5% of employees in the US quit voluntarily.
It’s not uncommon for employees to be unhappy with their job and decide to move on. No surprises there.
Who knows? Maybe you too can relate.
According to these voluntary employee turnover statistics in 2018, 15.5% of workers simply up and left their employers.
And it can only get worse:
Last year, the figure stood at 14%.
4. 10% is your ideal turnover rate.
(Source: Small Business Chron)
Look at it this way:
Sometimes an employee leaving your company isn’t entirely a bad thing especially if he or she is underperforming. How do you use this info to calculate your ideal rate? Basically, if 10% of your staff are underperforming, then 10% is your ideal turnover rate.