A Stitch in Time Saves Nine: Leveraging Networks to Reduce the Costs of Turnover

O ver the past two decades, workforce mobility has risen significantly and is imposing dramatic but often misunderstood costs on many organizations. According to a 2008 report by the U.S. Bureau of Labor Statistics, 30% of workers stay with an employer less than two years, and more than half depart by the five-year mark. The average employee holds as many as eight jobs between the ages of 22 and 44. Although the recent recession has slowed turnover, historical trends suggest that organizations will see a significant increase in the number of employees leaving for new job opportunities as the recovery gains momentum and job market conditions improve.