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Canada experienced a dynamic and evolutionary job market in 2023, experiencing shortages of workers in sectors such as the skilled trades, while also balancing high demand for entry-level roles, as shown by Pearson Airport’s recent job fair yielding over 2000 attendees for 700 positions.

But employee turnover has different factors – such as the industry, job environment, management, and even lifestyle changes that warrant a change of employment, contributing to the fast-paced labour market in Canada.

The numbers at a glance;

  • The average voluntary turnover in Canada was 15% in 2023.
  • The average involuntary turnover in Canada was 4.6% in 2023.
  • 42% of Canadians were looking for a new job at the start of 2024.

Where is the Highest Turnover?

  • Retail & Wholesale: 37.4%
  • Other Non-Manufacturing: 18.2%
  • Health Care Services: 18.0%
  • Consumer Goods: 18.0%
  • Services (Non-Financial): 17.5%
  • Logistics: 17.2%

Turnover by Position

  • Executives: 3.5%
  • Communications and Corporate Affairs: 2.8%
  • Creative, Design, and Media: 2.2%
  • Customer Service and Contact Center Operations: 5.9%
  • Data Analytics: 2.2%
  • Engineering and Science: 6.2%
  • Production and Skilled Trades: 7.1%
  • Supply Chain and Transportation Services: 6.9%

What Can Employers Do to Lower Turnover?

Employee satisfaction isn’t an expense – it’s an investment that the best employers make to retain their talent. Satisfaction is more than being happy at work, involving the compensation, work environment, colleagues, culture, and management styles. Here are a few additional factors;

  • Employee listening
  • Employee value proposition strategy
  • Total rewards assessment and design
  • Employee communications
  • Flexible working strategies

Is it a Good Time to Job Search?

Positions are often always available in any given industry – but finding an offer that meets or exceeds your key deciding factors and what you look for in an employer varies. External factors unrelated to the job market as a whole, such as retirements within a company, unexpected growth, maternity leaves, or an employee leaving for another position, may create an opening that fits what you’re looking for. Therefore, if you feel you require a more suitable position, always be monitoring job postings and reaching out to your connections to stay on top of the market.

* Data derived from the 2023 Mercer Canadian Turnover Survey