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Construction Industry Employee Turnover Report 2013-2023: ExitPro.com

<br>The Construction industry's turnover is influenced by project cycles, seasonal changes, and skilled labor availability. Workplace safety, diversity, and technology adoption also impact retention. Companies prioritizing training, competitive compensation, and a supportive culture can mitigate turnover challenges. Implementing exit interview software like ExitPro can aid in understanding and improving employee retention. Visit here https://exitpro.com/

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Construction Industry Employee Turnover Report 2013-2023: ExitPro.com

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  1. EmployeeTurnover Trends10-Year Industry Tracking Report: 2023 Edition Region: United States Data Range: 2013 - 2023

  2. US Employee Turnover Report Overview Data extracted from United States Bureau of Labor Statistics (Employment & Unemployment Release), September 2023 This Turnover Trends report contains the average monthly and annual Voluntaryemployee turnover rates across major U.S. industries over the past 10 years. Compare your organization’s turnover rate with its industry average. See if your employees quit at a higher, similar, or lower rate than your competitors. • The heat maps herein indicate the monthly turnover rate during the 10-year period from 2013 to 2023 • Darker red indicates higher turnover rates compared to same month over past 10 years • Darker green indicates lower turnover rates compared to same monthover the past 10 years

  3. Employee Turnover Rate Definition EMPLOYEE TURNOVE RATE Number of Employees Separated 100 = X Average # of Active employees during Time Period* • Distinguish different “Types” of Turnover: • Voluntary • Involuntary • Retirees • Transfers • Interns • Contract Positions • (Are you asking each Type the right questions when they leave?) • Aggregate turnover ≠ Actual Turnover • Not all turnover is created equal • Aggregate turnover rate alone can be misleading • Target key employee populations to pinpoint opportunities & areas of focus and for accurate reference for impact • Examples: Engineers in London…Millennial Sales Associates… Women Directors and above…3+ Year Tenured Accountants • Remember: Precision Produces Prediction *Time Period = Use Daily Average or (Active # on 1st day of period + # on Last day of period) / 2

  4. Executive Summary: 2023 State Employee turnover rates will change if: (Other than significant economic event or natural disaster) Decreasing consumer confidence with low holiday spending Unemployment increases more than .5% in a single quarter Commercial real estate declines to lower occupancy rates Employee Turnover is not immediately affected by: Geopolitical Instability USA off-year Elections (November 2023) High profile company bankruptcies Employee Turnover will be affected long-term by: Accelerating automation and integration of AI in front-end services and products Transition out of virtualization/remote work vs. the unchanging desire by workers for remote or hybrid work Autonomous delivery vehicles in transportation In the near future,Voluntary Employee Turnover is likely to: Flatten out from 2022’s 70-year highs in transportation, accommodation, education and manufacturing Drop slightly in emerging automated industries like retail, office and clerical, real estate, forestry and mining Remain high in healthcare, social service, life sciences, and software development Labor trends are currently affected by: Slightly increasing unemployment rates from lows Cooling real estate activity Expansion of global offshoring to developed Central and South American markets Dropping baby boom workforce participation rates DISCLAIMER: Assertions above are based on proprietary analysis, industry trends, and publicly available information at the time. Retensa considers multiple economic indicators, consumer trends, and technological advancements to form these opinions, however makes no warranty on the information provided, and no guarantee is expressed or implied.

  5. How Does Forecast Impact Modern Recruiting Strategy?

  6. What does Retensa do?

  7. Turnover Rates2013 - 2023

  8. Industry Turnover Rate (%): Construction (USA) Turnover Rate (%) The heat map table indicates average monthly and cumulative annual turnover rates Darker red indicates a high turnover rate compared to same month in past 10 years Darker green indicates a low turnover rate compared to same month in past 10 years Trend line BACK TO INDEX

  9. Retensa Employee Experience + Predictive Analytics = Retention Solutions Discover the next generation of People Analytics solutions: Employee Experience Platform www.TalentPulse.com Exit Interview & Separation Management www.ExitPro.com Employee Retention Strategies www.Retensa.com

  10. תודה 谢谢 Gracias Obrigada THANK YOU 고맙습니다 आपको धन्यवाद Grazie Merci شكرًا لك Discover the world’s easiest Talent Analytic solutions: ExitPro Exit Interview Software Retensa Employee Retention Strategies TalentPulse Employee Experience Platform

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