Survey Finds Employee Turnover Creating More Problems
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Survey Finds Employee Turnover Creating More Problems

Survey Finds Employee Turnover Creating More Problems

Employee turnover continues to increase and is placing an increased burden on the employees left behind, according to a new Harris Poll commissioned by Express Employment Professionals. 48% of U.S. hiring managers say their company is experiencing increased turnover, up from 44% in late 2021.

Employee turnover costs companies an average of $57,150 (cost to rehire, lost productivity) each year. Nearly a quarter of hiring managers (23%) say it costs their company $100,000 or more per year. This turnover also impacts the remaining employees who must pick up the slack of departing co-workers.

More than 7 in 10 (71%) hiring managers said employee turnover places a heavy burden on existing employees—specifically in companies with 100-499 employees (76%) and those with 500 or more employees (78%). A majority of hiring managers (78%) say their company has been affected in some way by the departures, namely having to increase workloads for existing employees (38%).

Hiring managers pointed to several issues as causes of rising turnover:

-employees resigning (34%) 

-increase in workplace demands (31%) 

-better pay/benefits offered elsewhere (31%) 

-competitive job market (28%)

-employees retiring (26%) 

-better perks elsewhere (e.g., summer Fridays, unlimited vacation days) (26%) 

-better company culture elsewhere (25%) 

-employees feeling overworked (24%) 

The survey was conducted online within the United States by The Harris Poll between May 3 and May 23, 2022, among 1,003 U.S. hiring decision-makers.

Published: December 5th, 2022

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