It’s very interesting to see the list of megacorps with poor retention. Having worked for major megacorp AT&T, I can relate. Though I was fortunate that I worked for a startup that was absorbed by AT&T Long Distance and was insulated for many years until we were bought by SBC and that toxic telecom culture immortalized in Dilbert cartoons finally infiltrated our organization. This is really a reflection of poor management, usually unqualified, who make working for these megacorps so difficult. As my company management recognized defects existed, but instead of investing in systems, improvements, and training they would propagandize workers to go the extra mile to cover over the defects they were responsible for not fixing. And that just burns out your workforce, employees pull back, harmed customers leave, and then morale tanks leaving workers with no respect for management or the executives.
https://www.zerohedge.com/personal-finance/apple-americas-worst-major-company-employee-retention
By Tyler Durden
Employees consider various factors when committing to a company long term, including a positive work environment, fair compensation, job security, opportunities for professional growth, and resilience against disruptive changes in the economy or technology.
So, which companies have the worst employee retention?
Visual Capitalist’s Bruno Venditti remarks that to create this graphic, Resume.io analyzed LinkedIn data to identify large companies where employees have the shortest tenures in the U.S..
Tech Giants on Top of the List
Resume.io ranked the top 100 companies by market cap in the U.S. based on their average employee tenure through an analysis of their LinkedIn pages.
With a turnover rate of 13.2%, the tech industry is the economy’s most turbulent.
Tech giants comprise three of the five shortest average tenures among company workforces.
On average, staff at companies like Apple, Amazon, and Meta quit their jobs before the second year.
Over the years, Apple and Meta have been seen as top companies to work with, with employees enthusiastically praising their cultures, values, benefits, and perks.
However, recent shifts, such as the return-to-office policies and lack of stability, have taken a toll on these companies.
Following the Covid-19 pandemic, Apple instituted a three-day-a-week in-office schedule in 2022. According to Tech.co, 67% of employees expressed dissatisfaction with the policy at that time.
Last year, Meta grabbed headlines by announcing the most significant tech layoff of the year, involving a 13% reduction in staff.