1 in 3 Canadian Companies Bracing for Higher Employee Turnover in 2024
TORONTO, Feb. 28, 2024 (GLOBE NEWSWIRE) -- One-third of Canadian businesses (28%) expect increased employee turnover this year, according to a new Express Employment Professionals-Harris Poll survey.
- TORONTO, Feb. 28, 2024 (GLOBE NEWSWIRE) -- One-third of Canadian businesses (28%) expect increased employee turnover this year, according to a new Express Employment Professionals-Harris Poll survey.
- High turnover comes with high costs, as companies estimate an average cost to replace an employee of $30,674 annually (e.g., cost to rehire, lost productivity).
- Moreover, 15% of Canadian companies report turnover costs them more than $100,000 per year.
- Indeed, nearly two-thirds of businesses (64%) say employee turnover places a heavy burden on current employees.