Employee Turnover Cost Statistics: Training & Retention Impact

In a 2024 Deloitte survey, 49% of employees said they would be more likely to stay if their employer invested in training and development.

of workers in 2024 reported that company benefits are important to them when deciding whether to stay with an employer.

Gallup estimates that disengaged employees cost the U.S. between $483 billion and $617 billion annually in lost productivity.

Gallup estimates that actively disengaged employees cost the U.S. up to $450-$550 billion per year in lost productivity.

McKinsey’s research on talent and mobility reports that reducing turnover by 10% can result in significant productivity and cost benefits for companies.

Deloitte’s 2024 Human Capital Trends highlights that rising talent costs and turnover pressures are key considerations for workforce planning.

McKinsey reports that companies typically lose 5% to 7% of revenue due to employee turnover and related disruption (as often summarized in talent analytics contexts).

Gartner has highlighted that employee experience and retention are linked to cost outcomes, including the cost of rehiring and productivity loss.

of workers quit their jobs in the United Kingdom in the year to May 2024, adding to replacement and rehiring costs.

of employees say they have left a job due to poor manager quality, which can raise replacement and onboarding costs.

of companies in 2024 report implementing AI-powered recruiting tools to improve time-to-hire and reduce churn-related costs.

1 in 4 employees (25%) says they have experienced burnout in the last year, which is associated with higher turnover risk.

of employees report being at least somewhat burned out, according to a Gallup estimate.

In the U.S., the annual quit rate was 2.3% in 2023, providing a benchmark for voluntary turnover levels.

In the U.S., the annual layoffs and discharges rate was 1.0% in 2023, which contributes to involuntary turnover.

In the U.S., the annual hiring rate was 3.5% in 2023, indicating workforce churn that affects turnover cost.

Deloitte’s Global Human Capital Trends highlights that many leaders are prioritizing skills and retention to address workforce volatility.

Gartner’s HR research emphasizes that organizations should measure turnover and time-to-fill because delays increase cost.

1 month of lost productivity can occur per new hire in some knowledge-worker onboarding scenarios, which compounds turnover costs across teams.

The U.S. Department of Labor’s JOLTS data shows the annual quit rate for the total nonfarm sector was 2.3% in 2023.

The U.S. Department of Labor’s JOLTS data reports job openings (rates) as of 2023 at 1.9 per available position (measure as openings/total employment).

The U.S. Department of Labor’s JOLTS data shows the annual separations rate was 3.9% in 2023 for the total nonfarm sector.

In the U.S., the annual total separations rate was 3.9% in 2023, indicating overall turnover and rehiring pressure.

The U.S. Bureau of Labor Statistics estimates total employment turnover through JOLTS separations, which drives costs associated with replacing workers.

The U.S. BLS JOLTS data reports that quits (a proxy for voluntary turnover) totaled 3.6 million per month in 2023 (annual average).

The U.S. BLS JOLTS data reports that separations totaled 5.1 million per month in 2023 (annual average).

The U.S. BLS JOLTS data reports layoffs and discharges averaged 1.0 million per month in 2023 (annual average).

of HR teams use marketing-style segmentation (personas) to tailor retention interventions in 2024.