Core Viewpoint - The overall employee turnover rate in China decreased to 14.8% in 2025, reflecting a trend of job stability influenced by macroeconomic conditions, industry adjustments, and changing employment attitudes [3][4]. Group 1: Employee Turnover Rates - The turnover rate in the restaurant/hotel/tourism industry remains the highest at 16.5%, despite a slight decrease of 0.2 percentage points from 2024 [4][6]. - The manufacturing industry also has a turnover rate of 15.7%, which is linked to pressures from carbon neutrality goals and digital transformation, leading to adjustments in frontline worker positions [4][6]. - The real estate sector's turnover rate decreased to 15.4% from 15.9% in 2024, indicating ongoing personnel optimization amid deep industry adjustments [5][6]. Group 2: Industry Comparisons - The transportation/logistics sector saw the most significant decline in turnover rate, dropping 1.4 percentage points to 14.0%, suggesting a more stable employment ecosystem due to mature logistics systems and flexible labor models [5][6]. - Other industries such as high-tech and consumer goods also experienced slight decreases in turnover rates, with high-tech dropping to 15.3% and consumer goods to 15.2% [6]. Group 3: Regional Talent Mobility - The gap in turnover rates between first-tier cities and new first-tier cities is narrowing, with new first-tier cities becoming attractive destinations for talent due to industrial upgrades and lower living costs [7]. - The trend indicates a shift in employment choices among younger individuals, who are increasingly valuing work-life balance and sustainable career development over traditional aspirations of moving to first-tier cities [7]. Group 4: Implications for Employers - The trend towards lower turnover rates suggests a need for companies to optimize HR strategies, focusing on internal talent development rather than external recruitment [7]. - Employers are encouraged to balance efficiency with employee well-being to foster a more engaged workforce during this period of stability [7].

Group 1 - The overall employee turnover rate in 2025 is projected to decrease to 14.8%, a decline of 0.5 percentage points year-on-year, marking a total reduction of 1.8 percentage points over the past three years since 2023 [1] - The industries with the highest turnover rates in 2025 are hospitality/tourism (16.5%), manufacturing (15.7%), and real estate (15.4%) [1] - The hospitality/tourism sector remains the highest in turnover rates due to a large proportion of entry-level and young employees, high work intensity, and strong job replacement, leading to frequent personnel turnover [1] Group 2 - The manufacturing sector's turnover rate of 15.7% is closely linked to industrial upgrades, with pressures from "dual carbon" goals and digital transformation causing adjustments in frontline worker positions [1] - The real estate industry has seen a notable decrease in turnover from 15.9% to 15.4%, indicating ongoing personnel optimization and transformation amid deep industry adjustments [1] - The transportation/logistics sector experienced the most significant decline in turnover, dropping 1.4 percentage points from 15.4% in 2024, reflecting a more stable employment ecosystem due to the maturation of logistics systems and flexible employment models [2] Group 3 - Turnover rates across cities in 2025 have decreased compared to 2024, with a narrowing gap between first-tier cities (like Beijing, Shanghai, Shenzhen) and new first-tier cities (like Chengdu, Hangzhou) [2] - New first-tier cities have enhanced their talent absorption capabilities by cultivating specialized industrial clusters, such as Chengdu's electronic information industry and Hangzhou's digital economy [2] - The rise of high-speed rail networks and remote work has allowed talent mobility beyond first-tier cities, with new first-tier cities improving their salary competitiveness and attracting young talent due to lower living costs [2]

Core Insights - The overall employee turnover rate in 2025 decreased to 14.8%, marking a three-year decline, with previous rates at 16.6% in 2023 and 15.3% in 2024 [1][2] - The decline in turnover is attributed to external economic factors rather than increased employee loyalty, as companies are implementing cost-cutting strategies and reducing hiring, leading to fewer job opportunities [1] - Employees are exhibiting a risk-averse mentality, preferring to remain in their current positions due to perceived risks and opportunity costs associated with job changes [1] Industry Analysis - The industries with the highest turnover rates in 2025 are: - Hospitality/Tourism with a turnover rate of 16.5% - Manufacturing at 15.7% - Real Estate at 15.4% [2] - The manufacturing sector's turnover rate is closely linked to industry upgrades, with pressures from carbon neutrality goals and digital transformation leading to adjustments in frontline worker positions [2] - The real estate sector continues to experience high turnover due to ongoing industry adjustments, despite a decrease from 15.9% the previous year, indicating ongoing personnel optimization and transformation efforts [2]