Turnover Rate in Professional Services
The tech industry gets the press when layoffs happen, and unfortunately, layoffs are happening a lot lately.
However, the professional service industry has a higher turnover rate than the tech industry, according to LinkedIn.
And to throw salt in the wound, the pro serv industry churns through employees ~30% more than the average across all industries.
Founders- take care of your people. It is hard to scale a boutique pro serv firm if you churn through your people.