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View All NewsSurvey finds 14% expect increased turnover rates for rest of year
Better opportunity and pay are the chief drivers of voluntary turnover, according to the 2015 Employee Retention Survey released by PrideStaff, a national staffing franchise.
Throughout the remainder of 2015, 14% of employers surveyed expect turnover rates to increase and 47.8% expect rates to stay the same.
The survey found turnover is most often initiated by the employer: 42.3% of respondents let employees go due to underperformance. However, the survey also found 20.7% of employees leave their jobs for career opportunity/advancement and 18.9% leave for higher-paying jobs elsewhere.
More than 61% said that they “deal with turnover on a case-by-case basis and only recruit when we have an opening,” while only 13.8% said they have a proactive recruiting strategy in place and have built a bench of available talent.
According to the survey, 68% of employers temporarily split job responsibilities among remaining employees when unplanned turnover occurs, and nearly 31% of companies offer overtime to existing employees to fill the gap.
The online survey was conducted in March 2015 and included nearly 600 individuals, representing a wide range of industries and company sizes.