What is it?
- Examine hiring and turnover data from McLean and Company’s New Hire and Exit survey from 2021-2023.
- Hiring and turnover were affected by low unemployment rates following the pandemic, high job vacancies, and the reevaluation of career goals and work-life balance between 2021 and 2022.
- Some hiring and turnover measures have returned to pre-2022 baseline, while other hiring and turnover measures show changes that have been sustained through 2023.
Why does it matter?
- Inform hiring and turnover measurements and initiatives in 2024 and beyond.
- Benchmarking data such as turnover can be useful as a point of comparison against similar organizations.
- External comparisons – including benchmarks – should be used to provide context for your results rather than to make decisions in isolation.