A naukri.com initiative
Achievers
1w
341
Image Credit: Achievers
Employee turnover by industry: The hidden cost of attrition in 2025
- Employee turnover rates have stabilized, with 28% now considering a job change compared to 53% in 2022.
- Replacing an employee can cost up to four times their annual salary, creating financial burdens for organizations.
- High turnover hinders business growth and innovation, emphasizing the importance of employee retention.
- Industries like consumer discretionary, healthcare, IT, financials, and manufacturing face high turnover rates.
- Calculating employee turnover involves dividing departures by the average number of employees over a period.
- Healthcare experiences turnover due to burnout and staff shortages, impacting talent retention.
- Financial services sees high turnover due to stress, competition, and evolving employee expectations.
- Manufacturing struggles with retention due to poor workplace safety and wage competitiveness.
- Professional services face turnover challenges related to career mobility, job satisfaction, and workload.
- Strategies to combat turnover include enhancing recognition programs, offering career development, leveraging data insights, promoting workplace flexibility, and fostering a positive culture.
Read Full Article
20 Likes
For uninterrupted reading, download the app