Similarly, employee turnover (voluntary median monthly separation rates excluding layoffs, reductions-in-force, and departures of temporary staff), in tandem with slowing economic growth and rising rates of unemployment, has plunged from 1.0 percent of employers' workforces per month in 2008 to 0.5 percent in 2009. The weakening economy and job market appeared to discourage employees from seeking other job opportunities, as turnover rates shrank for employers in every category of industry and workforce size, and in every region of the country.
Median monthly turnover rates from January through December 2009 averaged 0.5 percent, down one-half of a percentage point from the median monthly rate of 1.0 percent observed in 2008. Comparisons of turnover rates in 2008 to 2009 show declines across all major industry sectors. There were steeper declines in turnover in smaller than in larger organizations. Regionally, median monthly turnover rates from 2008 to 2009 declined a half percentage point in the Northeast (from 1.0 percent to 0.5 percent), the South (from 1.1 percent to 0.6 percent), and in the North Central states (from 1.0 to 0.5 percent). Seven-tenths of a point declines in turnover were observed in the West (from 1.1 percent to 0.4 percent).
BNA's survey of job absence and turnover has been conducted quarterly since 1985. This report is based on responses from 267 human resource and employee relations executives representing a cross-section of U.S. employers, both public and private. Total employment of the reporting organizations: 860, 516.