Companies take an average of 42 days to fill positions, according to the Society for Human Resource Management’s new Human Capital Benchmarking Report, and the typical employee tenure at an organization is eight years.
The average employee turnover rate is 19 percent, and the cost-per-hire expense is $4,129, on average. Yet only roughly a third of companies had a succession plan in place.
Find out more about voluntary and involuntary average employee turnover rates, amenities like tuition reimbursement, employee tenure and which roles companies tend to include in their succession plan in SHRM’s full report.