Employee Turnover at Innovecs
Contributions to staff retention at Innovecs
Company Age
Company Size
Mean Seniority
Industry
Country
Intrinsic
About Innovecs
We are a global digital transformation tech company. We create digital solutions powered by innovative technologies and incorporate emerging trends to help businesses transform and grow. We have earned our clients’ trust and respect by applying an individual approach to each and being responsive...
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 Innovecs, we estimate average tenue could be increased by 201 days with effective retention programs. We base this number on a comparison of Innovecs to other similar companies.
What is driving turnover at Innovecs?
Employee turnover at Innovecs is primarily driven by in-demand employee skills and company size. This company relies on skilled employees to achieve its goals. In general, to increase employee retention, companies should focus on improving the skills of their in-demand employee groups. Areas where employees may need improvement include: leadership critical thinking problem solving communication developing relationships perspective taking creativity emotional intelligence. Innovecs has fewer employees than average companies in our database. Employees are more loyal to their employers at smaller companies. It also means that employees are less likely to leave for another job, which can be beneficial to the company's reputation and bottom line. With lower employee turnover, employers can save money on recruitment and training costs.
Methodology
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%.
Disclaimer
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.