A survey by iHire revealed the latest 2019 employee retention statistics. This includes the fact that 75% of employees in the U.S. do not stay at their jobs for more than five years. The finding indicates job-hopping is becoming far more common. It was once a liability. But not in today’s candidate-driven labor market.
One of the biggest drivers for this trend is a booming economy. This includes a 50-year low unemployment rate of 3.5%. It is the lowest since 1969. There are more job openings than there are people to fill them. Which by the way is responsible for U.S. businesses losing $1 trillion every year due to voluntary employee turnover.