Employee Turnover: Where Workers are Leaving & Where They're Going

Canada experienced a dynamic and evolutionary job market in 2023, experiencing shortages of workers in sectors such as the skilled trades, while also balancing high demand for entry-level roles, as shown by Pearson Airport's recent job fair yielding over 2000 attendees for 700 positions.

But employee turnover has different factors - such as the industry, job environment, management, and even lifestyle changes that warrant a change of employment, contributing to the fast-paced labour market in Canada.

The numbers at a glance;

• The average voluntary turnover in Canada was 15% in 2023.
• The average involuntary turnover in Canada was 4.6% in 2023.
• 42% of Canadians were looking for a new job at the start of 2024.

Where is the Highest Turnover?

• Retail & Wholesale: 37.4%
• Other Non-Manufacturing: 18.2%
• Health Care Services: 18.0%
• Consumer Goods: 18.0%
• Services (Non-Financial): 17.5%
• Logistics: 17.2%

Turnover by Position

• Executives: 3.5%
• Communications and Corporate Affairs: 2.8%
• Creative, Design, and Media: 2.2%
• Customer Service and Contact Center Operations: 5.9%
• Data Analytics: 2.2%
• Engineering and Science: 6.2%
• Production and Skilled Trades: 7.1%
• Supply Chain and Transportation Services: 6.9%

What Can Employers Do to Lower Turnover?

Employee satisfaction isn't an expense - it's an investment that the best employers make to retain their talent. Satisfaction is more than being happy at work, involving the compensation, work environment, colleagues, culture, and management styles. Here are a few additional factors;

• Employee listening
• Employee value proposition strategy
• Total rewards assessment and design
• Employee communications
• Flexible working strategies

Is it a Good Time to Job Search?

Positions are often always available in any given industry - but finding an offer that meets or exceeds your key deciding factors and what you look for in an employer varies. External factors unrelated to the job market as a whole, such as retirements within a company, unexpected growth, maternity leaves, or an employee leaving for another position, may create an opening that fits what you're looking for. Therefore, if you feel you require a more suitable position, always be monitoring job postings and reaching out to your connections to stay on top of the market.

* Data derived from the 2023 Mercer Canadian Turnover Survey