Employee Turnover at Honeywell
Contributions to staff retention at Honeywell
Honeywell is a Fortune 100 company that invents and manufactures technologies to address tough challenges linked to global macrotrends such as safety, security, and energy. With approximately 110,000 employees worldwide, including more than 19,000 engineers and scientists, we have an unrelenting ...
What is "Avoidable" turnover?
Employee retention at Honeywell 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, Honeywell seems to be doing better than most of their immediate competitors.
What is driving turnover at Honeywell?
Employee turnover at Honeywell is primarily driven by in-demand employee skills and company size. The skills this company needs are not scarce within the industry. Employees are more likely to stay with a company with low in-demand skills, as they are not likely to find a better job elsewhere. Employees with higher in-demand skills are typically more likely to leave a company for other reasons, such as wanting to move to a new location or to take on a new challenge. Therefore, a company with high in-demand skills is more likely to have a high employee turnover rate. Honeywell has a larger number of employees than average. A company with low employee turnover is more likely to have a loyal, consistent workforce. This is in contrast to a company with high employee turnover, which can be more difficult to manage and can lead to a loss of skilled workers.
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.