Industries throughout 2017 saw not only quitters but also people who lost their jobs, but unsurprisingly most were in technology.
These industries had the highest turnover rates in 2017, according to Linkedin’s survey in the region, and globally:
Technology (software) (12% – regionally) ( 13% – globally)
Professional services (consultants, etc…) (11% – regionally and globally)
Telecommunication (10% – regionally) (11% globally)
Retail (13% globally- no numbers regionally)
(Full global survey results in below infographic)
Although all these industries have a high turnover rate, some sub-sectors might not be affected.
Designers in the field of ‘user experience’ have an extremely high turnover rate at 23%, globally.
21.7% of both data analysts and embedded software engineers were out of a job last year.
The computer games (15.5%), Internet (15%), and computer software industries (13%) impacted tech turnover the most, but those rates pale in comparison to the massacre in the aforementioned occupations.
The reasons behind these high turnover numbers is that good talent in the Tech industry is easy to come by, and as employers’ offers get more competitive, top talent would be eager to jump on these new opportunities.
The numbers support this theory.
According to LinkedIn data, almost half (49%) of departing tech employees take another job within the tech sector.
Are you filling those shoes?
The industries with the highest turnover levels here aren’t surprising, with restaurants (17%), retail (16%), and supermarkets (15%) leading the way.
The roles people abandoned the most include lower-level, often-seasonal jobs, like a retail sales (19%), food service (17.6%), and hospitality services (17%).
The rise of online shopping (Noon.com, Souq.com, and Wadi.com), will necessitate traditional retail companies to let go far more people.
Many former salespeople have to find entirely new careers: only 35% of people leaving jobs in retail stay within the sector, according to LinkedIn’s data.
What about retaining good talent or keeping your job?
How to plan ahead
It goes without saying that if you are performing well; your employer will not be looking to kick you out the door.
AMEinfo’s report on a HAYS Survey showed that people were looking for opportunities laid elsewhere.
But some companies are finding creative ways to retain their employees:
1-A simple conversation can go a long way. (according to LinkedIn)
2-Moving employees to a different part of your organization. (according to Nielsen, a global information, data, and measurement company )
3-More Managers mean less retention; (Coming from Hershey’s)