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?
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.