Employee turnover in Idaho slowed during the recession but is beginning to pick up again as workers become more comfortable in a reviving labor market. But the rate of turnover and characteristics of the workers changing jobs can have a significant economic impact on businesses.
Employees stay on the job an average of 23 to 24 months before jumping ship or being laid off, according to the Bureau of Labor Statistics’ labor turnover survey, and at a cost that can substantially affect a business’s bottom line.
According to the Census Bureau’s Quarterly Workforce Indicators, employee turnover was 9.1 percent for all jobs in 2011. That is up from 8.8 percent in the depths of the recession in 2009 but still below prerecession levels approaching 11 percent.