Employee Turnover at Citi
Contributions to staff retention at Citi
Citi's mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients. We have 200 ...
What is "Avoidable" turnover?
Employee turnover is normal. Employees come and go for many reasons, including personal reasons and reasons that have nothing to do with a specific company. In addition, turnover is known to be high in some industries and for some job types. So how much can a company actually do to improve retention? This differs from company to company but we estimate this number. For Citi, we estimate average tenue could be increased by 348 days with effective retention programs. We base this number on a comparison of Citi to other similar companies.
What is driving turnover at Citi?
Employee turnover at Citi is primarily driven by company size and in-demand employee skills. Citi has higher than average company size which leads to higher employee turnover. Citi has lower than average in-demand employee skills. Companies with lower in-demand employee skills typically have lower employee turnover. Meaning, they are more likely to attract and retain talented employees.
The numbers reported here are based on statistical analysis of publicly available employment data of current and past employees of the company. We determine mean tenure based on how long past employees have stayed at the company and how long current employees have been employed. We determine the annual turnover percentage as (1/tenure * 100). We analyse a sample of the employees at a company. We make an effort to sample in a representative way but some bias is unavoidable. Some types of employees may be overrepresented in our sample based on their job, their online activity, and their geographic location. We expect our number to have a confidence interval of approximately 1 year. In other words, if the mean tenure reported is 4 years, the true value lies between 3 and 5 with 98% confidence. Similarly if the average turnover reported is 20% we expect the true value to be between 15% and 25%.
We make an effort to report accurate information and to be transparent regarding our methodology. However, we make no warranty of any kind as to the accuracy of these reports. Use at your own risk. If you feel that any of the information reported here is inaccurate for any reason, please let us know.