The latest figures show that turnover rates for accounting and finance jobs has hit 30.5%, which was 3.3% higher in 2022 compared to 2021.

On average, employee turnover rates have increased by 8.7% since 2019, and are estimated to increase even more in 2023 with a predicted 35.6% turnover rate in the UK and 46.8% in the US.

Businesses with a low turnover rate are more likely to run successfully, saving on average £7,200 per employee through retention, according to the staff turnover report by Remote.

Almost two-thirds (63%) of employers said that having low turnover rates increased motivation within the company, with a further 59% citing a decrease in operational costs.