Economic Boom - Anyone who entered the workforce in 1994 or after has not experienced anything but good economic times. This has created a willingness to leave one job because many people have had little difficulty finding another job, and has created a perception that the individual's current job must live up to the individual's expectations. Service Economy - Another trend is the continued shift of the US economy to services. Service firms are very dependent on their staff. In the consulting industry for example, the service is the staff.
Consulting firms are a wonderful example of how valuable the staff can be.
Turnover is not viewed simply as the cost of replacing the individual. Turnover also means lost revenue. Job Complexity - As jobs become more complex, the importance of the individuals performing those jobs increases. In the manufacturing sector, firms are implementing technology solutions to automate their procurement, manufacturing and distribution processes. This has resulted in a reduction in total staff and has created jobs that have become more complex.