The cost of turnover is high. In fact, replacing a single employee can take up to 28 weeks and cost over £25K in lost productivity, making it a big risk for any business, including yours.
To add even more urgency to this issue, our data found that the overall voluntary labour turnover rate was 13.8% over 2023. Moreso, one in seven employees resigned last year.
The question then becomes, why is this happening? And, more importantly, how can you ensure it doesn’t happen to your organisation?
You can find the answers in our 2023 Cendex Labour Turnover Report.
Discover key findings and data-driven insights into labour turnover and employee retention, such as:
- Industry-Specific Turnover Rates: Understand how turnover varies across broad industry sectors, uncovering unique challenges and opportunities.
- Organizational Size Impact: Explore how turnover rates vary based on organisations size.
- Retention Strategy Trends: Uncover real-world challenges and actions employed by organisations to enhance retention.
Don’t let turnover cost you—use our data to develop an effective, targeted retention strategy and ensure business continuity in 2023 and beyond.
In today’s competitive job market, knowledge is power. Equip yourself with the most up-to-date market data from Cendex to help your organisation thrive.
Download the 2023 Labour Turnover Report today.