New research has revealed the UK’s labour turnover figures are at a five year high, with the HR sector also seeing an increase in voluntary resignations
The resignation rate in the UK has increased steadily since 2012, from 10.6% to 15.5%. according to new data from XpertHR. The occupation groups with the highest resignation rates include:
Publishing and events (12.3%)
Voluntary sector (8.8%)
It may come as no surprise that HR has the fourth highest voluntary resignation levels out of the groups measured, with rates steadily increasing over the last couple of years, up from 7.4% in 2016 and 6.3% in 2015.
When looking at the rates for all types of departures, whether it be voluntary resignations, redundancies, dismissals, and retirements (i.e. Total labour turnover) stands at an average of 23% and a median of 19.45 which is a slight increase from 2015 – where the average was 21.5% and the median 18.5%.
The labour turnover in HR is the third highest at 12%, with publishing and events (17%) and distribution (13.5%) surpassing it.
The research also looked into the turnover rates among employees with less than 12 months service. The data showed that one in ten (10%) new starters resigned before completing a year’s service – with total turnover for all reasons at 11.4%. it is important to monitor these figures as this is generally a high cost to companies who recruit new starters.
Companies in the services sector had the highest rate of attrition among new starters. On average, 11.6% new employees left voluntarily in their first year, with total labour turnover at 13.1%.
XpertHR senior HR practice editor Noelle Murphy, comments, “Monitoring staff turnover is important for all organisations so that they can respond quickly when levels reach a point that is damaging to the business. Our data on turnover rates among those with less than 12 months’ service shows just how important it is for HR to look carefully at its recruitment and selection strategy – and its onboarding process. Ensuring new starters receive ongoing support and attention, and have the opportunity to raise any concerns as soon as possible, can help to avoid staff churn among this group. Losing an average of one in 10 employees before completing one year of service is not only costly in terms of resources, but also for employee engagement among those already in post.”