Retention Rates for Manufacturing Drop

Older, urban,long-tenured employees suffer more
By Gordon Sova
||Last Updated: 01/08/2010

Statistics Canada has found that the retention rate of employees in manufacturing industries has dropped sharply in the current recession. Fewer workers are employed by the same company that they were four years earlier, as a result of either layoff or quitting, than at almost any other point over the last three decades. Further, the sector of the economy in which they are employed, the age and the location of those employees are also having an impact on the tenure of their employment.

Historically, job retention rates fall during economic downturns because companies lay off staff. But, as the employees who remain gain more tenure and seniority, they are more likely to stay in the same job.