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Retail: Employee Turnover Industry Report 2013-2023

In the face of labor shortages and evolving consumer preferences, retailers are prioritizing competitive wages, enhanced benefits, and career advancement to combat high turnover rates. Embracing technology and implementing retention strategies like flexible scheduling and wellness initiatives are crucial for sustaining a skilled and engaged workforce in the retail sector's competitive landscape.

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Retail: Employee Turnover Industry Report 2013-2023

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

  2. ReportOverview

  3. 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

  4. Employee Turnover Rate Definition EMPLOYEE TURNOVER 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

  5. Want to Calculate Employee Turnover Cost? CALCULATECOST OF EMPLOYEETURNOVER HERE CLICK LINK ABOVE to Estimate YourTotal Organization & Per EmployeeTurnover Cost Calculation for Free

  6. Who is Retensa? Internationally-recognized employee retention experts by:

  7. What does Retensa do?

  8. Where does Retensa manage Employee Insights?

  9. Turnover Rates2013 - 2023

  10. Industry Turnover Rate (%): Retail (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

  11. 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

  12. 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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