What Is Turnover Costing You?

The average cost to hire a full-time, hourly store associate in 2019 was $1,716. 

March 06, 2020

ALEXANDRIA, Va.—Do you know exactly how much losing an employee costs your company’s bottom line? Since 2016, the cost to hire an hourly store associate has increased more than 30%, while the average turnover rate has remained over 100%. Convenience stores spend $1,716 on average to hire a full-time hourly worker, according to the NACS State of the Industry (SOI) Compensation Report© of 2019 Data. With the full-time hourly associate turnover rate averaging 81% for c-stores and the part-time associate rate nearly double that, finding ways to keep employees happy—and at the cash register—is crucial in today’s competitive marketplace.

To help attendees engage with a growing segment of the workforce, Sarah Alter will present “Attracting, Retaining and Motivating a Gen Z Workforce,” during the NACS State of the Industry Summit, April 7-9 at the Hyatt Regency O’Hare in Chicago. Alter, president and CEO of the Network of Executive Women, will discuss what Gen Z wants in the workplace and how to attract these workers to your organization.

“Bringing together the industry’s leading retail executive leadership with their supplier partners, the SOI Summit is where unique insights are shared, big ideas unlocked and the collaboration essential to success is born,” said Lori Buss Stillman, vice president of research at NACS.

“The SOI Summit is the industry’s premier event to truly understand how changes in retail are creating opportunities for the convenience and fuel retailing industry,” she said. “There is no event where attendees can dig into the financial metrics and performance benchmarks that define industry strategy and tactics other than the NACS State of the Industry Summit.”

Register now for the SOI Summit.

About the SOI Summit

With 50 years of convenience industry data, analysis and strategic insights behind it, the NACS State of the Industry (SOI) Summit provides the data-powered answers you need to help set the course forward for your business. Each spring, we bring together business professors, economists and top-performing c-store retailers to help break down the latest consumer, financial and operational data across the convenience channel—live from the stage. Held over two fast-paced days, this annual benchmarking conference is the only event where convenience retailers gain access to the newest metrics—as well as industry trends, opportunities and “watch-outs”—in essential topic areas such as finance, labor, store operations, merchandising and fuel sales.