Guide to Understanding Employee Turnover

INTRO

SECTION I: THE TRUE COST OF TURNOVER

SECTION II: EVALUATING TURNOVER STATISTICS

SECTION III: TURNOVER RATES BY POSITION

SECTION IV: COMMON CATALYSTS FOR TURNOVER

SECTION V: CAUSES OF TURNOVER BY DEMOGRAPHIC

SECTION VI: FIVE SOLUTIONS TO REDUCE TURNOVER

Intro

Executive Summary

Turnover costs are a constant concern to business owners and stakeholders. When an employee leaves a company, the cost to replace them can be more than a year’s worth of their salary. Companies with high turnover rates may also observe that:

Getting to the bottom of what causes employee turnover is critical for employers to increase their bottom line and create an employee experience that others want to be a part of, rather than run from.

Unfortunately, solving turnover is notoriously difficult for employers, because there isn’t a one-size- fits-all solution.

What’s important to a millennial in the foodservice industry may be different than what a baby boomer in the healthcare field wants.

The goal of this eBook is to provide a comprehensive resource for HR leaders and business operators across all verticals. We’ve taken a deep dive into multiple industries to understand the true cost of turnover, common causes of turnover, how turnover varies by industry, position and demographic, and solutions for turnover based on patterns seen in research.

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