Kansas City, Kan. – As the national unemployment rate continues to drop slowly, turnover rates are inching up in most industries. However, the average total turnover rate reported for higher education employers in 2015 is relatively flat at 12.8 percent, according to Compdata Surveys’ national survey, Compensation Data Colleges & Universities, surveying 338 higher education organizations. In 2014, turnover rate was reported at 12.5 percent.
While overall turnover rates remained relatively flat, voluntary turnover rates decreased slightly for Baccalaureate, Masters, Doctoral and other special focus higher education facilities.
“Employers are reporting a slight decrease in voluntary turnover rates, indicating employees have confidence in their current roles and employers,” said Amy Kaminski, Vice President for Compdata Surveys. “Lower voluntary turnover can indicate employee satisfaction in regard to competitive compensation and benefits. By understanding turnover trends, you can benchmark your compensation programs for employee retention; as well develop a solid plan for recruiting new employees.”
In order to fill the vacancies created by departing employees, higher education employers exercise a variety of methods to find skilled workers with 69.6 percent reporting use of internet resume databases. Other methods utilized for recruiting include Trade/Professional association advertising, reported by 44.5 percent of employers and employee referral programs, reported by 16.2 percent of employers.
About the Survey
Compensation Data Colleges & Universities 2015 provides a comprehensive summary of pay data, benefits information and pay practices with an effective date of January 1, 2015. More than 490 industry-specific job titles and 550 benchmark titles were surveyed ranging from entry-level to top executives, with data collected from more than 338 higher education organizations across the country.
Since 1988, Compdata Surveys & Consulting has provided HR professionals with the compensation tools they need to stay competitive. With an extensive pay and benefits database and experienced compensation consultants, we are a full-service firm providing innovative solutions to complex compensation challenges. Thousands of organizations provide data in each of our 12 industry-specific surveys every year, ensuring the reliability of our results. For more information about the compensation and benefits surveys, contact KC Hall at (800) 300-9570.