The average voluntary turnover rate in Canada is approximately 11.9% as of late 2024, down from a peak of 15.5% in 2023. This rate represents employees voluntarily leaving their positions, though some estimates vary by sector, with retail and wholesale experiencing significantly higher rates, often exceeding 20-30% in some areas.
Measure the right metrics
For example, in the the 2021 Bureau of Labor Statistics report, the overall turnover rate is 57.3%, but that number drops to 25% when considering only voluntary turnover, 29% when considering involuntary turnover and just 3% when looking at only high-performers.
Pro tip: It's important to note that turnover rates vary significantly from industry to industry. However, turnover rates should (ideally) be lower than 10%, which is a very healthy turnover rate across the board.
According to Statista, a statistics portal for market data, market research and market studies, the average tenure for employees in Canada is 8.5 years.
A good percentage for employee retention is 90% or more. That means keeping the turnover rate to 10% or less.
A high new hire turnover rate can be a major red flag, indicating something is amiss within your organization. Not only can this result in a loss of competitive edge, but it can also negatively impact employee engagement and harm your employer brand.
Thus, if the employee performs no work, or works for less than 3 hours, he must still receive 3 hours pay at the regular rate of wages; however, if the employee works for more than 3 hours, then he will be paid for each and every hour worked.
Jobs paying over $100k in Canada span tech, healthcare, finance, engineering, and skilled trades, including roles like Software Engineer, Financial Manager, Nurse Practitioner, Electrician, Sales Manager, Data Scientist, and Pilot, with high demand in areas like IT, health, and specialized trades, often requiring specific education, certifications, and experience, or strong sales performance.
National Average Employee Turnover Rates (Monthly Separations, 2026 Update) According to recent data from the U.S. Bureau of Labor Statistics, the national average employee turnover rate across all industries is 3.3%.
The Retail and Wholesale industry in the US has the highest turnover rate at 26.7%. Meanwhile, the Insurance/Reinsurance industry enjoys the lowest turnover rate at just 8.2%.
Labor Turnover Statistics: What Is Considered a High Turnover Rate? While the exact threshold for what is considered a high turnover rate varies depending on the industry and region, LinkedIn data suggests that the average turnover rate across industries and sectors is 10.6%.
In general, a 10% turnover rate is considered good for a company; at the time of this writing, most companies fall between 12% and 20%. One place to look for benchmark reports are SHRM and the Bureau of Labor Statistics (you can also search for Employee Tenure Summary at BLS).
Here's a quick breakdown of common warning signs, what they may signal, and how to respond:
Top 5% The threshold amount for those who are in the top 5% is $162,210 annually. Those who fall into the top 5% category are also part of the upper middle class. They earn slightly more than the top 10%, who aren't that much above the average Canadian.
Jobs that pay $150K a year without a degree include commercial pilots, air traffic controllers, real estate brokers, construction managers, and elevator installers. These roles often require certifications, apprenticeships, or extensive experience rather than formal college education.
Basic rules
The Canada Labour Code requires that all federally regulated employees be granted one 30-minute meal break for every 5 consecutive hours of work. This means your employer can't force you to eat at your desk or work through the break.
The Basic 8/44 rule
Overtime is all hours worked in excess of 8 hours a day, or 44 hours a week, whichever is greater.
Example: Costco employee retention rate
But Costco stands out, with a reported retention rate of about 93% among employees who've been with the company for at least a year. That's no accident.
Turnover focuses on exits — it helps uncover why employees are leaving and whether those departures are voluntary or involuntary. Retention, on the other hand, focuses on continuity and measures how successful an organisation is at keeping its workforce engaged and committed over time.