Released in June 2007, the 1st Executive study on the economic implications of employee initiated turnover reveals that the Manufacturing and Health industries are in the 4 industries that ranked highest in employee turnover.

Across 17 industries analysed, Retail Trade and Property & Business Services also ranked highly when it came to employee turnover, with an alarming 16% turnover rate in the Retail Trade industry, and 15% for the Property & Business Services industry.  The Manufacturing industry recorded an employee turnover rate of 11%, and the Health industry, 9%.

"This demonstrates the result of a combination of Australian economic factors", said Andrew Thoseby, Director of 1st Executive.  Australian unemployment has reached a new 32 year low at 4.5% as at May 2007.  Further, Australia continues to experience its fastest acceleration in ageing until 2012, which when combined with the temporary workforce, decreases participation rates and skill shortages presents significant capacity constraints to businesses", he concluded.

At such a crucial point in Australia's workforce trends, it is imperative that Australian employers, particularly those experiencing high employee turnover rates, strategically implement programs to retain their key talent.

Click here today to receive information on how 1st Executive can help you retain your key talent.