We also analyzed the free text of more than 1.4 million Glassdoor reviews, using the Natural Employee Language Understanding platform developed by CultureX, a company two of us (Donald and Charles) cofounded. This measure, which we call industry-adjusted attrition, translates each company’s attrition rate into standard deviations above or below the average for its industry.
Synonyms for hard to look away from drivers#
To dig deeper into the drivers of intra-industry turnover, we calculated how each Culture 500 company’s attrition rate compared with the average of its industry as a whole. The pattern is not limited to technology-intensive industries, since innovative companies like Goldman Sachs and Red Bull have suffered higher turnover as well. More-innovative companies, including SpaceX, Tesla, Nvidia, and Netflix, are experiencing higher attrition rates than their more staid competitors. Not surprisingly, companies with a reputation for a healthy culture, including Southwest Airlines, Johnson & Johnson, Enterprise Rent-A-Car, and LinkedIn, experienced lower-than-average turnover during the first six months of the Great Resignation.Īlthough the sample is small, these pairs hint at another, more intriguing pattern. How Culture 500 Company Attrition Rates Compare Within Industriesĭuring the Great Resignation, companies within the same industry have experienced varying degrees of attrition. (See “How Culture 500 Company Attrition Rates Compare Within Industries.”) Workers are 3.8 times more likely to leave Tesla than Ford, for example, and more than twice as likely to quit JetBlue than Southwest Airlines. The figure below compares competitors with high and low attrition rates within their industries. Even within the same industry, we observed significant differences in attrition rates. Industry explains some of the variation in attrition rates across companies but not all of it. Enterprise software, which also suffered high churn, employs the highest percentage of engineering and technical employees. Management consulting, in contrast, had the second-highest attrition rate but also employs the largest percentage of white-collar professionals of any Culture 500 industry. Some of the hardest hit industries - apparel retail, fast food, and specialty retail - employ the highest percentage of blue-collar workers among all industries we studied. The Great Resignation is affecting blue-collar and white-collar sectors with equal force. The industries with the highest percentage of blue-collar workers are noted in light blue. This chart shows the average attrition rate across 38 industries from April through September 2021.
Industry Average Attrition Rate in the Great Resignation 3 The data, from Revelio Labs, where one of us (Ben) is the CEO, enabled us to estimate company-level attrition rates for the Culture 500, a sample of large, mainly for-profit companies that together employ nearly one-quarter of the private-sector workforce in the United States. workers who left their employer for any reason (including quitting, retiring, or being laid off) between April and September 2021.
To better understand the sources of the Great Resignation and help leaders respond effectively, we analyzed 34 million online employee profiles to identify U.S. More importantly, they are looking for ways to hold on to valued employees. 2 As the Great Resignation rolls on, business leaders are struggling to make sense of the factors driving the mass exodus. 1 Between April and September 2021, more than 24 million American employees left their jobs, an all-time record. Following is synonyms dictionary to help you get started.More than 40% of all employees were thinking about leaving their jobs at the beginning of 2021, and as the year went on, workers quit in unprecedented numbers.
Trying to find out synonyms or antonyms of new words you encounter is a good way of improving English vocabulary. Most words can have one or more synonyms. The meaning of these words need not be exactly the same. Synonyms are words which have similar meanings.
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