Compensation Resources, Inc. Releases Its Turnover Survey

Upper Saddle River, N.J. - September - Compensation Resources, Inc. has released the results of its Turnover Survey. The purpose of this study was to obtain turnover statistics and trends. Data was compiled from survey questions that were developed by CRI and distributed to companies in over ten industrial classifications, in addition to Not-for-Profit organizations. The survey sampled turnover data from a variety of organizations, collected in July and August . Results indicated that from May , to May , , the average voluntary turnover rate was .%. The majority of respondents indicated this rate has either increased or remained the same, while only .% of participants indicated this rate has decreased in the prior -month period. Of all employee functional groups, Administrative level and Production level positions show the highest voluntary turnover rates; however, according to survey participants Administrative and Production level positions also take the shortest amount of time to fill. Overall, the cost of turnover to organizations is on average x the employees salary to x the employees salary. Lastly, participants indicated that employees usually leave the organization because there is better pay and/or benefits offered elsewhere, better opportunities/increased responsibilities offered somewhere else, or involuntarily due to company layoff. Some additional highlights:

Industry Voluntary Overall All Industries .% .% Business Services .% .% Engineering .% .% Financial/Insurance .% .% Healthcare .% .% High Technology .% .% Manufacturing .% .% Not-for-Profit .% .% Other .% .% Pharmaceutical .% .% Sales .% .% Utility/Energy .% .%

Although some turnover is inevitable, organizations must take steps to control turnover, particularly that caused by organizational factors such as poor supervision, inadequate training, unfair pay systems, lack of communication, and inconsistent policies. Human resource activities should be examined as part of the turnover control efforts. Compensation Resources, Inc. (CRI) provides compensation and human resource consulting to start-up, emerging, and middle market companies. CRI specializes in Executive Compensation, Board Advisory Services, Salary Administration, Performance Management, Salary Administration, Sales Compensation, and Expert Witness services. For more information on our consulting services, please contact us at () - or visit our website at www.compensationresources.com.