photo “Construcción” by Alvaro Olivares
13 June 2016. Santiago, Chile. On Friday, La Tercera released an article saying that job turnover in Chile is higher than in any nation in the Organization for Economic Cooperation and Development (OECD). The information comes from an analysis of job turnover in the most recent Monetary Politics Report, published in June.
The Findings of the Report
The report found that the average percentage of turnover in Chilean jobs between 2005-2014 was 37%. This percentage is higher than any of the other 24 countries studied in the report.
However, the study showed that job turnover varied based on the type of job. For instance, the categories with the highest turnover in Chile were construction (55%), agriculture (42.8%), and financial services (40.9%). This is unsurprising given that these jobs are often based on contracts of a fixed time period, or, in the case of agriculture, based on weather throughout the year.
Meanwhile, jobs in the public service sector and in the mining industry showed the least amount of turnover. Public service jobs had a turnover percentage of 21.8%, and mining jobs had a turnover of 26.1%.
The statistics also showed that bigger companies had a lower percentage of job turnover than small companies. Experts attribute this to bigger companies having more benefits, such as bonuses. Similarly, companies that pay more tend to have fewer turnovers than jobs with lower salaries.
The report also considered age and gender when looking at turnover. The highest turnover, was in people aged 25-34. Men also changed jobs more often than women, found the report.
Why so much turnover?
Despite the fact that many people don’t want to leave the security of their jobs, job turnover is clearly still occurring in Chile. This is mainly because a reconstruction of the private sector is taking place.
The director of headhunting organization DNA Human Capital, Lucas Canevaro, explains that companies are trying to reduce costs and downsize. This leads to layoffs, which in turn leads to higher turnover.
Similarly, Carla Fuenzalida, who is an executive director of the headhunting firm CF Partners, says that businesses immediately analyze the productivity and efficiency of each person who is hired.
Yet whatever the reason, job turnover remains high in Chile. At the end of 2015, only 18% of people changed their jobs. Now that percentage has risen.
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May 12, 2017
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