The Leading Indicators of Turnover at Staffing Firms As all staffing leaders know, supply and demand in the labor market are not in line. Demand is high while supply is low. It’s a job seeker’s market, and many potential candidates aren’t even looking for work. Naturally, this lack of supply shrinks the available talent pools recruiters can pull from, but it also hits staffing firms from another angle: increased employee turnover. You may ask why this presents a new problem. After all, turnover has always been higher in this industry than others. But at this moment, your firm’s “normal” talent leakage may be about to break the entire dam. Backfilling a flood of open roles can become a huge distraction for leadership and managers. It can also kill morale and productivity, negatively affecting the talent experience and client experience your firm delivers. Simply put, your firm’s reputation is on the line. As it became crystal clear that internal employee satisfaction at staffing firms could make or break their futures, ClearlyRated launched its Best of Staffing Employee Satisfaction survey in 2020. We now have proprietary data sets from both 2020 and 2021 that include responses from 3,000 staffing employees at 28 firms. They deliver key insights on employee satisfaction during this pivotal watershed period for the U.S. workforce. A New Way to Understand – Even Predict – Staffing Employee Turnover To build upon takeaways from individual years, the ClearlyRated team decided to compare the results of both surveys, creating the only data set of its kind. Our 2022 Staffing Employee Turnover Report outlines how the events of 2020 and 2021 affected internal turnover at staffing firms. For instance, account managers/executives and recruiters have been the hardest roles to hold on to. In fact, more than 40% of account managers/executives left their roles between 2020 and 2021. This research helped us not only understand who is leaving but also why… and we uncovered more than we expected. While looking for trends related to which roles suffered the highest turnover rates and why those employees were leaving, we identified distinct employee behaviors and demographics that correlate to a higher likelihood to quit. We even discovered the leading firm-wide indicator of employee churn. Our report not only includes all this information but also explains how staffing leaders can use it to predict turnover rates in the coming year—both firm-wide and at an individual level. Knowledge is power. Once you know your potential for turnover, you can prepare for it. Better yet, you may even be able to temper your talent leakage before it becomes a flood. Download our 2022 Staffing Employee Turnover Report now.
