Explanation:

The average cost-per-hire is $4,129, while the average time it takes to fill a given position is 42 days, according to the Society for Human Resource Management’s (SHRM’s) new Human Capital Benchmarking Report. In terms of employee retention, the average employee tenure is eight years, the annual turnover rate is 19 percent and the involuntary turnover rate is 8 percent. These statistics remained stable when compared to last year’s findings. 

The report analyzes data collected from the SHRM Human Capital Benchmarking Survey in 2016. The survey of 2,048 respondents measured employment, retirement, compensation, employer-paid tuition and other people metrics. The data was collected from February to April 2016 and reflect fiscal year 2015. Metrics from this report are useful to organizations as they evaluate their own operations and practices and can be customized to meet specific needs.