Turnover rates are a signal of a business’s and the industry’s overall health, as this Qualtrics study demonstrates. High turnover forces companies to spend more on recruiting, hiring, and training, so business leaders and HR professionals should pay attention to turnover trends.
The industries with the highest turnover rates are arts and entertainment, accommodation and food services, leisure and hospitality, professional and business services, retail, and transportation. The team explains that the main drivers of employee turnover were inadequate compensation, a lack of workplace flexibility, and limited career development.
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