New research reveals the industries and the states which have the highest rate of resignations in the United States.
- Arkansas has a resignation rate of 30 per 1000 people, with a total of 92,000 resignations out of a population of 3,063,152
- The industry with the highest average resignation rate is accommodation and food with nearly double the average resignation rate seen across all industries
- Leisure and hospitality come in second, while retail comes in third on the list
Workforce management platform TimeForge analyzed U.S. Bureau of Labor Statistics data to determine the rate of resignations across all major industries and in each state across the US.
Arkansas has a resignation rate of 30 per 1000 people, with a total of 92,000 resignations out of a population of 3,063,152.
According to the data, Alaska and Wyoming have the highest resignation rates of 34, almost a third higher than the average.
With a resignation rate of 33 per 1,000 people and a total of 366,000 resignations in 2023, Georgia comes in third place.
Louisiana follows closely with a resignation rate of 32 per 1,000 people, Louisiana has a population of approximately 4.5 million people.
Other states that have relatively high resignation rates include Montana, Tennessee, Colorado, and Delaware. These states have resignation rates ranging from 29 to 30 per 1,000 people.
he average resignation rate is the number of quits during the year so far as a percentage of total employment.
The hospitality industry, encompassing hotels and restaurants, tops the list for the highest average resignation rate at 5.3, nearly double the average rate seen across all industries, with 2,246,000 total resignations. Meanwhile, the leisure and hospitality industry, which offers recreational activities like amusement parks, casinos, and sports clubs, is not far behind at 5.0 and 2,470,000 resignations so far in 2023.
Coming in third on the list is the retail trade industry with an average resignation rate of 3.7. This industry includes a range of businesses, from brick-and-mortar stores to online retailers, that sell products directly to consumers; it saw a total of 1,713,000 workers resign this year.
The trade, transportation, and utilities industry is fourth on the list, with an average resignation rate of 3.1 and a total of 2,684,000 resignations. This industry involves the movement of goods and people, with companies such as trucking firms, airlines, and utility providers among its ranks.
Tied with the trade, transportation, and utilities industry is the arts, entertainment, and recreation sector, with an average resignation rate of 3.1. This industry encompasses creative and cultural activities such as museums, theaters, and performing arts centers.
A spokesperson for TimeForge commented on the findings, “We recognize that the high rate of resignations across various industries and states is a significant concern for many organizations. This trend in resignations is resulting in significant costs for businesses, with a cumulative expense of $210,450,000,000 for US companies, taking into account the total of 21,045,000 resignations across industries and a conservative estimated cost of $10,000 per person for training and recruitment.”
They continued, “We are dedicated to fighting against this unsettling trend by providing powerful workforce management tools that can help address the underlying causes of employee turnover.”
TimeForgeis a cloud-based software company that provides labor management and scheduling solutions for businesses in various industries, such as retail, hospitality, healthcare, and food service. Their software helps businesses streamline their employee scheduling process, manage time and attendance, and optimize labor costs.
This article was written by Dan Beal courtesy oftimeforge.com.
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