2007 Turnover Rates by Industry

As part of the 2007 edition of its Compensation Data Survey, CompData Surveys publishes voluntary turnover rates by industry, an excerpt from which is shared below.  The average turnover rate across all industries is 12.3%, but the rates range widely from a low of 6.5% in Utilities to a high of 21.3% in the Hospitality industry.

2007 Voluntary Turnover Rates by Industry

• Hospitality: 21.3%
• Healthcare: 15.5%
• Real Estate/Construction: 15.4%
• Distribution/Warehouse: 15.3%
• Other*: 15.1%
• Services: 14.7%
• Not-For-Profit: 13.7%
• Financial Services: 13.3%
• Technology: 10.6%
• Manufacturing: 10.2%
• Utilities: 6.5%

*Other includes organizations not otherwise classified, including retail, landscaping, newspaper and other organizations involving communications/media.

Comments

[Frank Giancola]

Ann,

Very interesting turnover statistics. I'm trying to figure out why the turnover is so low in the "deadend" industries like manufacturing and utilities.

Thanks for calling this to our attention. Another reason why reading your blog is so worthwhile.

Frank

[Ann Bares]

Frank:

Good question - I found myself asking similiar ones as I looked at the statistics.

It may be that some of the older more established industries (though not all manufacturing and utility employers can be characterized this way)have a more steady, stable population working for them. I have worked for clients in these industries where average tenure is 7-8 years or more, and there are a lot of 20+ year veterans. But that's only anecdotal evidence.

Thanks for your comment!

[Corey Feldman]

Frank - Industries with strong unions often have low turnover. In a union environment seniority is everything. People end up with golden handcuffs at a certain point.