Employee Turnover at Cognizant
Contributions to staff retention at Cognizant
Cognizant (Nasdaq-100: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we’re improving everyday life. See how at www.cognizant.com or @cognizant.
What is "Avoidable" turnover?
Employee retention at Cognizant is unusually high compared to other similar companies. 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. That being said, Cognizant seems to be doing better than most of their immediate competitors.
What is driving turnover at Cognizant?
Employee turnover at Cognizant is primarily driven by company size and in-demand employee skills. Cognizant is a comparatively large company. Companies with fewer employees likely to retain workers and develop a loyal workforce. Employee turnover is often a measure of employee engagement. Engagement is the extent to which employees are satisfied with their job, their working conditions, and their co-workers. In general, companies with lower employee turnover are more likely to have high levels of employee engagement. This company relies on skilled employees to achieve its goals. Employers that require skills that are less in-demand experience lower turnover on average. Employers with a high turnover rate typically see a decline in productivity as well as a significant need for more training and development to keep employees from leaving in the first place. That said, if turnover is unpredictable or difficult to manage, depending on the role, it may be more cost-effective to simply replace departing employees with ones eager to find employment elsewhere.
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.