What Industries Have High Employee Turnover Rates?

When it comes to retaining employees, some industries are, on the whole, more successful than others. Sometimes this has to do with the kinds of salaries and benefits a given company can offer its employees, other times it has to do with the chance for upward mobility within a certain industry. Regardless of that, however, one thing can be said to be certain: Those industries who retain more employees conduct a thorough pre-employment screening process beforehand. Read on to find out more!

rsz_industry-employee-turnoverIs Your Industry’s Employee Turnover Rate Too High?

According to a recent study, the “ideal” employee turnover rate hovers at just about 10 percent. The number alone does not indicate what “healthy” employee turnover is; in addition to how many employees leave your company, which employees leave is equally important. Some industries, however, far exceed this optimum number when it comes to losing employees.

The hospitality industry has approximately a 29.3 percent employee turnover rate.

The banking and finance industry’s employee turnover rate is about 17.2 percent.

The healthcare industry sees about 16.8 percent of its employees leave.

Other industries’ rates seem to be more in line with that 10 percent goal, including:

The insurance industry at 10.4 percent.

The utilities industry at 7.2 percent.

The manufacturing and distribution industry at 13.3 percent.

How Can Employee Turnover Rates Be Lowered?

The key to getting out-of-hand employee turnover numbers under control lies in the hiring process. Oftentimes, a candidate who lacks to motivation, commitment, or skillset to make it in a given industry slips through the cracks and is hired when companies neglect to conduct proper background checks. But by using background checks and investigating each applicant’s background thoroughly, companies increase their chances of finding (and retaining) only the best employees available.

AIR Pre-Hire in Reisterstown, MD, conducts accurate and verified universal background screening, so you will have thorough background checks on your employees. Here at AIR Pre-Hire we don’t simply check the basic information, we dig deep to identify inconsistencies and make sure your potential employees (as well as existing employees) are acceptable for hire. This is the human element of our custom pre-screening service. You can count on us for timely, verified pre-screening and employee re-screening.

Learn more by visiting our website www.air-prehire.com or calling us at 1-800-469-4473.Check us out on FacebookTwitterGoogle+, and Pinterest as well.

Source:

http://www.halogensoftware.com/blog/does-your-organization-have-healthy-employee-turnover

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