![]() In the technology sector in particular, employee attrition is being driven by increasing demand and the correlating increase in compensation. Other examples include being unchallenged in work or unsatisfied with their compensation or recognition. This is followed by poor leadership and an unhappy environment or culture, respectively. LinkedIn’s survey of 10,000 job switchers found that the top reason that employees left jobs is a lack of career opportunity. Considering the fact that attrition can cost anything from half of an entry-level employee’s salary to over 125 percent of salary for senior or technical specialists, it’s no wonder that 78 percent of business leaders rank retaining employees as important or urgent.īut before we can make any progress in solving the problem of high attrition rates, we need to make sure we really understand why employees leave in the first place. Source: PaysaĪ high attrition rate can have a huge impact on an organization’s bottom line. At Amazon the average period is just a year, and at Google it’s 1.1 years. For example, Facebook boasts the highest retention rate, with employees serving an average tenure of just 2.02 years. Source: LinkedInĪ Paysa study of the top ten tech companies shows just how dire the situation is. ![]() LinkedIn’s analysis of half a billion professionals found that the highest attrition rates come from technology (software), followed by retail, media, and professional services.
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