Overall turnover rate is a bit simplistic, so it’s best to dive further into the numbers and examine turnover by type. If workers are choosing to leave en masse, there is clearly some sort of underlying dissatisfaction, be it low pay, lack of benefits, inflexible hours, or a generally unpleasant workplace culture. Recruiters and hiring managers simply aren’t attracting and selecting adequate workers, and you only later discover worker incompatibility when you’re forced to let them go.Ĭonversely, a higher than average voluntary turnover rate indicates a problem in the workplace.
If you have a high involuntary turnover rate, that could indicate there is a problem with your hiring process. It’s therefore best to calculate voluntary and involuntary turnover rate separately, as the numbers provide distinct insights. However, employee turnover figures tend to include both voluntary and involuntary departure-whether employees leave of their own accord or are let go for underperformance. To avoid wasting time and resources, you want to establish a healthy and acceptable employee turnover rate, which across industries is generally about 10%. Replacing employees is expensive and time-consuming between recruiting, training, on-boarding, etc. That would mean that, if you had 200 employees, 50 would depart your agency during the year. Ideally, you don’t want one in every four permanent employees leaving your agency. So, let’s get to the fundamentals: what’s a good employee turnover rate, and what other numbers should you examine to get an idea of your agency’s productivity? Understanding the numbers Without a reliable workforce to keep your agency afloat, you simply won’t attract enough job seekers to fill vacant positions for your clients. Nonetheless, staffing agencies should dedicate more time and resources to retaining administrative staff, as they’re responsible for recruiting temporary workers and managing client accounts.
#EMPLOYEE TURNOVER RATES FREE#
People are hired to work temporary jobs, whether for days, weeks, or months, and then are free to depart when the temp job is completed. Of course, staffing is inherently a transient industry. Taking temporary staff into account, that figure balloons to somewhere around 430%. What’s more, this figure only accounts for permanent staff turnover-recruiters, account managers, technicians, etc.- not the flood of temporary workers that routinely fluctuate. That means one in every four of employees is likely to leave annually, which is pretty substantial. Nationally, the average employee turnover rate for staffing agencies is around 25%. That being said, the average turnover rate in the staffing industry is often pretty high. And yet the acceptable level of employee turnover is different for every industry, so it’s best to understand the rate relative to your competitors. Consequently, turnover is not always the fault of management unless the rate is suspiciously high, which could be indicative of problems with the work environment. It’s a fact of life: employees come and go.
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