GITNUX MARKETDATA REPORT 2024

The Most Surprising Employee Turnover Statistics in 2024

Statistic 1

"Companies investing in training and development can reduce employee turnover by 65%."

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Statistic 2

"Organizations with high employee turnover infrequently promote from within."

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Statistic 3

"Voluntary turnover accounts for roughly 70% of overall employee turnover."

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Statistic 4

"79% of employees leave their jobs due to a lack of appreciation."

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Statistic 5

"Employee turnover in the first year of employment exceeds 20%."

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Statistic 6

"The technology industry experiences the highest annual turnover rate of 13.2%."

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Statistic 7

"Approximately 3 million Americans quit their jobs each month."

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Statistic 8

"25% of employees will leave their job within the first six months."

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Statistic 9

"Lack of career development is the primary reason for employee turnover, responsible for 22% of resignations."

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Statistic 10

"Companies with a formal onboarding process experience 50% greater employee retention."

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Statistic 11

"Employee turnover is lower in companies with a strong workplace culture."

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Statistic 12

"Employee turnover costs U.S. businesses over $1 trillion annually."

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Statistic 13

"Companies with high employee engagement typically experience 59% less turnover."

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Statistic 14

"Poor management practices are responsible for 25% of employee turnover."

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Statistic 15

"The average cost of replacing an employee can range from one-half to two times the employee's annual salary."

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Statistic 16

"Employee turnover rates in the retail industry can be as high as 60%."

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Statistic 17

"Improved employee benefits can reduce turnover by 26%."

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Statistic 18

"87% of employers say improving retention is a critical priority."

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Statistic 19

"Employee turnover rates for part-time workers are 3 times higher than full-time workers."

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Statistic 20

"43% of millennials plan to leave their job within two years."

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