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Retention Management And Metrics

Employee Turnover And Retention Briefings Abstract: 4

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Turnover Rates in the UK in 2003 [HR Gateway] Monday 12/15/03 3:43 AM

According to the Labour Turnover survey the average turnover rate in the UK stands at 15.7% for full time staff and 13.5% for part time workers. This is the lowest level in four years.

Adminstrative and secretarial jobs had the highest rate of turnover (20%) while personal and protective services showed no turnover at all.

In 2003, the hospitality sector and call centres had the highest turnover rates at 40%. Low turnover rates are seen in manufacturing, transport and paper and printing.

The reasons for turnover were cited as lack of career and development opportunities and pay.

According to the survey, 80% of companies use exit interviews to find out why employees leave.

The survey was conducted by the Chartered Institute of Personnel and Development (CIPD) who warned that companies are not putting enough emphasis into measuring the cost of turnover.

"Labour turnover appears to be on a downward trend - which is good news for employers. But most are completely unaware of the savings that they might achieve by reducing it further - even by just a few percentage points. There seems to be no systematic approach to stemming the losses."

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