LinkedIn has conducted a survey on the rate of staff turnover around the world. Canada ranks fourth among countries where it is the highest.
21% for France, 17.6% for the United Kingdom, 17.5% for Australia, 16% for Canada and 13% for the United States – staff turnover rates are reason for concern in these countries. According to the study conducted by LinkedIn among a half-billion professionals around the world, the average is 12.8%.
In Canada, the most-affected sectors are technologies and software (16.9%), sales (16.5%), the public sector (15%), media (13.9%), telecommunications (13.2%), finance and insurance (13.1%). The situation is all the more disturbing as these are industries where recruitment is sometimes problematic due to shortages of qualified profiles.
Why do employees leave?
In parallel, LinkedIn conducted the survey with 10,000 people who had recently changed jobs to find out why they had left. The most cited are the lack of opportunities for career development (45%), dissatisfaction with management (41%), workplace culture and environment (36%), lack of challenges (36%), insufficiently interesting salary or benefits (34%), and finally a lack of recognition and reward (32%).
How to retain them?
From these analyses companies can put initiatives in place to try to reduce this turnover rate. Thus, more precise recruitment and employee integration processes can avoid problems of matching the employee’s culture with that of the company. Proposing additional benefits on the basis of employee surveys to find out what they would most like to be entitled to can make the employer more attractive than its competitors. And more conversations about employees’ career and desires with their supervisor can help identify possibilities for their future within the company. 94% of employees also said they would probably remain longer if the company would invest more in their career. It is also important to not underestimate the challenge of employee retention.