Leveraging our exclusive data assets, Equifax has assembled an infographic capturing key employee turnover trends that emerged in 2013 from the more than 48 million job separations that took place. Our proprietary Equifax Workforce Insights, based on aggregate transactional employment data rather than self-reported surveys, show a growing trend in voluntary turnover, with a year-over-year increase of 3.5%. In addition, nearly 40% of turnover occurred within six months or less of hiring, costing employers valuable resources, time and money in the process.
>> Click on the thumbnail to view full-size infographic
More 2013 highlights covering geography, industry and separation cause include:
- Turnover rates were highest in Alaska, Wyoming, Oklahoma, Utah and Louisiana.
- At 73.7%, the vast majority of turnover in retail was voluntary.
- 19.5% of voluntary turnover in the real estate industry was due to employee dissatisfaction, which is 15.6% higher than the national average of 3%.
- Voluntary turnover due to another job opportunity was 24.2% higher in the computer and electronic manufacturing industry; that’s 8.3% above the national average of 15.9%.
>> You can download a PDF of the infographic here
To explore more exclusive employment trends and benchmarks, visit the Equifax Workforce Insights website.