Employee Turnover at Danske Bank
Contributions to staff retention at Danske Bank
About Danske Bank
Danske Bank – A strong Nordic Bank We are a modern bank for people and businesses across the Nordics with deep financial competence and leading innovative solutions. The heart of our business is the bright heads of our more than 22,000 employees, working across 12 countries with one common goal: ...
What is "Avoidable" turnover?
Employee retention at Danske Bank 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, Danske Bank seems to be doing better than most of their immediate competitors.
What is driving turnover at Danske Bank?
Employee turnover at Danske Bank is primarily driven by employee seniority and in-demand employee skills. The employees at this company have had more experience than the average employee at other companies. Less experienced employees tend to leave an organization more frequently than their more experienced counterparts. Theoretically, this is attributable to two factors: less experienced employees may be more likely to feel dissatisfied with their job or the company's culture. Additionally, as employees become more experienced, they may be more likely to feellike they are able to contribute significantly to the team or organization. If they feel they cannot bring value to their organization, they are likely to look for new opportunities. The skills and experience required for many positions at this company are not in high demand. Employees stay with these companies for a longer time, meaning that less talented employees are recruited and hired. Companies with lower in-demand employee skills typically have lower employee turnover. In other words, employees stay with these companies for a longer time, meaning that less talented employees are recruited and hired.
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.