Compensation Resources, Inc. Releases Its 2004 Turnover Survey

Upper Saddle River, N.J. - September 2004 - Compensation Resources, Inc. has released the results of its 2004 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 2004.

Results indicated that from May 31, 2003 to May 31, 2004, the average voluntary turnover rate was 11.3%. The majority of respondents indicated this rate has either increased or remained the same, while only 20.9% of participants indicated this rate has decreased in the prior 12-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