Retention-Turnover

  • To recoup the cost of losing just one crew member, a fast food restaurant must sell 7,613 children's combo meals at $2.50 each. (Sibson Consulting)
  • A typical information technology company incurs a cost of $34,100 for each lost worker. (Sibson Consulting)
  • To recoup the cost of losing just one sales clerk, a clothing store must sell almost 3,000 pairs of khakis at $35. (Sibson Consulting)
  • 46% of new hires leave their jobs within the first year (eBullpen, September 2006)
  • 63% of those who do not feel treated with respect intend to leave within 2 years. (Sirota Survey Intelligence, July 2006)
  • 87% of employees say that working with a low performer has made them want to change jobs. (Leadership IQ, June 2006)
  • 81% of senior executives and managers said that recruiting new employees is more difficult than retaining valued employees. (NFI Research, May 2006)
  • 43% of 26-39-year-olds expect to leave their job within three years; 39% see no opportunity for advancement at their present job. (University of Phoenix, November 2005)
  • The average Gen-X worker in his 20s stays at each job for only 1.1 year. (Researchers Charlotte and Laura Shelton, October 2005)
  • Different studies come up with different costs of turnover, but they range from $7,000-$9,000 to replace an hourly low-wage employee and up to $45,000 to replace a mid-level salaried employee. (Vickie Adair, Media A-Team)
  • Some estimates on the cost of replacing the average employee are over $125,000. (Vickie Adair, Media A-Team)
  • Over 70% of all employees respond to competitors' job offers during work hours. (Retensa.com 2009)
  • Voluntary resignations are at the highest level in over 20 years. (Retensa.com 2009)
  • Nearly 50% of all middle managers are either currently looking for another job or plan to do so (Retensa.com 2009)
  • 53% of senior level executives say they are dissatisfied with their current job. 72% are planning to leave within the next 6 months. (ExecuNet, April 2006)
  • The Saratoga Institute and Hewitt Associates estimate the productivity cost of replacing employees can cost 1 to 2.5 times the salary of the job opening. (Vickie Adair, Media A-Team)
  • 44% of HR professionals stated that their companies did not provide career transition services for separated employees and as a result, they are concerned about their employer's commitment to the workforce (SHRM Survey 2009)
  • 33% of management and 43% of non-management employees think their companies are not doing enough to deal with poor performers (Sirota Survey Intelligence, July 2006)
  • 70% of job seekers said they would prefer working for a medium or small employer compared to a large company. (CollegeGrad.com., February 2006)
  • 40% of employers worldwide are having difficulty filling positions due to the lack of suitable talent available in their markets. (Manpower, Inc. February 2006)
  • 42.7% of resumes contained one or more significant inaccuracies. (ResumeDoctor.com, February 2006)
  • During the last 40 years, global migration of less-skilled and highly skilled workers has doubled (Susan Martin, Heavy Traffic, The Brookings Review, Fall 2001, reported by Hewitt)
  • Surveys show that the number of jobs moved offshore is increasing to an average of 25% and by the end of the decade this number will grow to 40% to 40%. (Hewitt, 2008, Next-Generation Talent Management)