In fiscal 2020, voluntary turnover was higher than expected, likely due to the unique stressors of COVID-19, early retirements, and talent shortages.
The highest rates of voluntary turnover were seen at the management and professional job levels and in industries that provided scientific, professional, or technical services.
Involuntary turnover remained stable despite the pandemic, likely because of higher voluntary turnover rates and government assistance programs like the Canada Emergency Wage Subsidy (CEWS).
The highest rates of involuntary turnover were at the administrative/support, trades, service, and production levels.
In 2020, 1.4 per cent of people retired and the average age of retirement was 62 years old.
In 2021, 6.7 per cent of the overall workforce will be eligible to retire. Another 10.7 per cent of employees will be eligible in the next five years. The majority of retirements are expected at the trades, service, and production levels.