A New Report Ranks America's Biggest Companies Based On How Quickly Employees Jump Ship (2024)

FAQs

Which US companies have the highest turnover rate? ›

What Company Has The Highest Turnover? Three companies are tied for having the worst employee retention rate. These are the cryptocurrency exchange Coinbase, Avelo Airlines, and fast food outlet Popeyes, where staff stays on average for just 0.8 years.

Typically, high turnover means 28% of your new employees quit within the first 90 days of their employment. (Again: this presents an enormous cost to companies because they have to constantly repeat a cycle of recruitment, hiring, and training new people.)

Apple, Amazon, and Meta are among the companies with the worst employee retention, with median tenures of 1.7, 1.8, and 1.8 years, respectively. Apple's return-to-office policy and Meta's layoffs have contributed to their poor employee retention rates.

While organizations should aim for a 10 percent employee turnover rate, the national average in 2021 was slightly more than 47 percent.

An Indian company, Rajesh Exports, has the highest revenue per employee in the world, at $292 billion. This is 2.2 times as much per employee as second-placed VICI Properties.

Several factors can cause high turnover rates, including employees feeling overworked, companies failing to offer adequate professional advancement opportunities and businesses offering insufficient pay or benefits to employees.

When your employee turnover rate is high, you will feel its effect with reduced productivity and increased time spent recruiting, training, and onboarding new employees. High employee turnover can also lead to a decrease in employee morale, which negatively impacts your company's reputation.

Government jobs typically have the lowest employee turnover rates across all industries. Industries among the lowest turnover rates as of April 2023 include: Federal government: 0.6% State and local government: 0.9%

What companies employees don't want to leave? ›

Key Findings. HSBC Bank USA and Neutrogena are tied in first place as the companies that keep their employees longest, with an average tenure of 10.2 years. Coinbase, Avelo Airlines, and Popeyes have an average tenure of 0.8 years – the shortest employment period in our study.

Attrition rates can vary significantly depending on factors such as industry, location, company culture, and specific workforce dynamics. However, some companies known for having relatively low attrition rates historically include Google, Microsoft, and IBM.

A new Payscale report published on Thursday ranked Massachusetts Mutual Life Insurance Company as having the highest turnover rate out of all of the Fortune 500 companies. Average employee tenure was a little over nine months.

Pro tip: It's important to note that turnover rates vary significantly from industry to industry. However, turnover rates should (ideally) be lower than 10%, which is a very healthy turnover rate across the board.

While some turnover can be healthy for an organization, unhealthy turnover can be detrimental to both morale and the bottom line. Unhealthy turnover occurs when top performers leave because of job dissatisfaction or lack of growth opportunities, and are not replaced by similarly skilled employees.

Top companies in the world by revenue 2023

With nearly 640 billion U.S. dollars in revenue, Walmart topped the ranking of the hundred largest companies globally, followed by Amazon. Walmart was also the largest company in the world based on its number of employees, with some 2.3 million all over the world.

The metric used to measure the loss of employees over time is called the attrition rate. In the first quarter of the fiscal year 2022-23, Infosys' attrition rate was 28.4%, the highest among Indian IT giants. Tech Mahindra's attrition rate was around 22%, while Wipro came in second with a rate of 23.3%.

Walmart is the top-selling company in the world, turning over around $611 billion in annual revenue. This is according to the Statista company database Company DB. The next retailer on the list, e-commerce giant Amazon, is a whopping $100 billion behind that with a revenue of around $514 billion.