Introducing the 2021 NZ Staff Turnover Survey report – March 2022
Now in its 14th year, Lawson Williams has once again surveyed New Zealand businesses across a range of sectors to provide Staff Turnover data as New Zealand moves through the Covid – 19 pandemic.
In addition, the 2020 and 2021 reports have surveyed data at 6-month intervals which has provided more insight into the journey that businesses have taken in response to Covid and the impacts of other factors such as closed borders, significant financial support from central government and whether your business was classed as “essential”.
Understanding Staff Turnover by Industry sector is powerful.
The NZ Staff Turnover Survey provides information on a national basis, breaking this down into Voluntary and Involuntary Turnover and considering other factors such as location and company size.
For participants of the survey who receive the full report free of charge the real value of the data is delivered in the breakdown of industry sectors.
The 2021 report shows levels of staff turnover ranging between 8.4% and 45.5% with an average national rate of 18.5%.
It is important for businesses to compare their own Staff Turnover rates with others in their own Industry sector.
How does your Staff Turnover compare with your competitors?
When your Staff Turnover is higher than others in your sector it is an opportunity to improve the recruitment, onboarding, retention and development of your people.
In a skills short market lowering your staff turnover results in a reduction in turnover cost and an improvement in performance and organisational culture.
Lower turnover is a competitive advantage. It means that you are doing better at recruitment, onboarding, retention and people development.
By achieving Staff Turnover lower than others in your sector you can deliver higher productivity and drive profitability.