2016 Turnover Survey Released
By Kathryn O'Connor, PHR, SHRM-CP, CCP, GRP, Director, Compensation Services
Published February 28, 2017
High employee turnover can be devastating to an organization’s bottom line. When employees leave, they take the training, knowledge, and historical perspective you’ve worked years to build. The employer is left shorthanded, facing high recruiting costs and additional onboarding work. The employer is also at risk that excessive turnover will have a direct negative effect on overall company culture and employee morale.
The Management Association’s 2016 Turnover Survey analyzes turnover activity of our members over the last year. Our 2016 report shows the average voluntary and involuntary turnover rates by industry and employment size.
Results indicate the average annual turnover rate for 2016 was 20.3%. This total represents an average voluntary turnover rate of 14.9% and involuntary turnover rate of 5.4%.
The results of this survey can be used to benchmark your turnover rates to normative market data. During your analysis, if you find turnover is an issue at your organization, an investigation should be conducted.
Top reasons for turnover typically include poor management, poor hiring decisions, and poor total rewards packages. Thankfully, Management Association can help in all these areas.
If you feel poor management is an issue, visit our Training Calendar for a list of upcoming supervisory training classes, including Legal Issues for Supervisors, Supervisory Fundamentals, and our extremely popular Evolving Manager Boot Camp. Prefer to bring a class to your location? We are happy to accommodate your request.
Do you have issues recruiting and finding the right candidates? Our EngageHR team is ready to help. Whether you need temporary assistance with a particular recruiting project, or an on-site human resources professional for a longer assignment, our EngageHR team can provide the help you need efficiently, effectively and economically.
Finally, if compensation is an issue, our Compensation Analysts can benchmark your positions to local compensation survey data and create market-based pay structures.
Not sure what is causing your turnover? We suggest starting with Management Association’s Employee Engagement Survey, which now includes an employee engagement analysis. This in-depth survey looks at several key workplace areas and compares your results to those of your peers.
The Management Association believes that making changes to keep your most valuable employees is better than dealing with the challenges that will arise if they walk out the door. We are committed to helping our members address their unique issues by sharing our expertise and professional services.
The results of our 2016 Turnover Survey are made available to all Management Association members through the generosity of those who participated. If you find this data of value, please consider participating in the future. Members may download the full complimentary report under the “My Surveys” dropdown at hrsource.org. To speak to any of our staff members about project support, please contact us at 800-448-4584 or firstname.lastname@example.org.