Is high turnover affecting your business? Depending on your industry, it may not be as big of a problem as you may think. In a recent report by Express Employment Professionals, new findings reveal certain fields in which longevity is an asset, while in other fields, turnover is not a problem. In the nation-wide survey, results showed longevity matters most in accounting and high turnover is least impactful in the industrial and information technology fields. The report is the eighth installment in a series of releases titled “America Employed,” which explores the state of employment and unemployment in America today.
Express CEO and chairman of the board Bob Funk commented further on the trending shift in the American workforce. “There was a time when Americans tended to find a job and stay with that company through retirement. That’s not the economy of the 21st century. Turnover isn’t the exception; it’s the norm,” said Funk. “But not all jobs are created equal: longevity is still valued in some sectors, and it’s important to know where.”
Longevity vs. Turnover
Respondents of the survey showed the top fields where it’s most important to stay at a company for an extended period of time are Accounting and Finance; Professional; and Engineering, Manufacturing, and Technical. According to those who responded to the survey, the fields in which turnover hampers career development the least are Industrial and Information Technology.
However, no matter what industry you are in, there are benefits to both sides of the story.
Retaining your top talent can be key to maintaining a strong company culture. Your employees are a large factor in determining core values, and by having a tenured workers, you can establish what your organization is all about. On the other hand, shuffling in new workers with your current team can help spark new ideas and keep things fresh. As Funk put it, the most important thing is to know what type of industry you’re in and what is more valued. “If you’re working in accounting, I suggest you get comfortable and settle in,” Funk said. “But if you’re working in the industrial arena or information technology, the market accepts the fact that people jump around.”
Do you value longevity? Is turnover a problem or an accepted occurrence? Let us know in the comments section below!