The data behind our Top 50 report reveals important insights and opportunities for improvement in workforce turnover within the construction industry. Here are the key highlights:

• Average Turnover Rate: Across the top 50 companies, the average annual turnover rate is 40.75%, reflecting the challenges of workforce retention in the industry.

• Median Turnover Rate: The median turnover rate is 41.82%, showcasing consistency in workforce movement across the top-performing organizations.

• Turnover Range: Turnover rates among the top 50 companies range as low as 23.15%, showing that some organizations are achieving remarkable levels of workforce stability.

• Top Quartile Excellence: Companies in the top quartile (Ranks 1–12) have an impressive average turnover rate of 31.83%, demonstrating that with the right practices, workforce churn can be significantly minimized.

• Consistency Among Leaders: The top 10 companies average a turnover rate of 31.12%, reflecting the value of investing in effective employee retention programs.

Turnover by Quartiles:

• Top Quartile (Ranks 1–12): Average turnover rate of 31.83%.

• Second Quartile (Ranks 13–25): Average turnover rate of 40.59%.

• Third Quartile (Ranks 26–37): Average turnover rate of 46.74%.

• Bottom Quartile (Ranks 38–50): Average turnover rate of 52.43%.

These figures highlight the ongoing need for construction companies to prioritize workforce stability and retention, with clear opportunities for improvement across the board.

Suggestions for using this report

Interestingly, our analysis shows that company revenue has no significant impact on retention (correlation coefficient: 0.0036, p-value: 0.98). Instead, factors like company culture, management practices, and workplace conditions are the key drivers of long-term employee satisfaction. Here’s how HR leaders can leverage this report to improve retention within their own organizations:

• Benchmark your performance: Compare your company’s craft worker retention rates to those in the Top 50. This can help you identify gaps and set realistic improvement targets.

• Study best practices: Research the companies on the list. What do they prioritize? How do they foster loyalty among their craft workforce? Use these insights to audit your own practices.

• Survey your workforce: Gather feedback from your craft workers to understand what they value most in their roles. Use these findings to align with the factors driving retention at top employers.

• Focus on actionable changes: Prioritize areas like safety, career development, pay transparency, and workplace culture, all proven retention drivers that go beyond the balance sheet.

• Track progress: Use Skillit’s data tools to monitor how changes to your policies and practices influence retention over time.

What this all means for craft employers

These insights emphasize the importance of retention as a critical metric for workforce management. Top-performing companies like McCarthy prove that investing in workforce stability pays off in productivity, morale, and long-term success. By contrast, companies at the lower end of the rankings have clear opportunities to improve their retention strategies and reduce costly turnover. Skillit is really proud to provide industry-leading data and insights to help construction companies benchmark their workforce strategies to help move our industry forward.