Employee Turnover at NetSuite
Contributions to staff retention at NetSuite
Founded in 1998, Oracle NetSuite is the world’s first cloud company. For more than 20 years, NetSuite has helped businesses gain the visibility, control and agility to build and grow a successful business. First focused on financials and ERP, we now provide an integrated system that also includ...
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 NetSuite, we estimate average tenue could be increased by 83 days with effective retention programs. We base this number on a comparison of NetSuite to other similar companies.
What is driving turnover at NetSuite?
Employee turnover at Netsuite is primarily driven by in-demand employee skills and employee seniority. The skills needed by employees at this company are not in high demand. Employee turnover differs significantly between employee groups with different skills sets. Employees with skills that are in hight demand, like software engineering, typically stay with a company for less time than employees in, say, operations or finance. The employees at this company have been in their career for a longer period of time than average. Higher-turnover companies often have less- stable workforces because their employees are more likely to leave for a variety of reasons, such as dissatisfaction with their job, a lack of opportunities for growth, or a feeling that their team is not supportive. In order to reduce employee turnover, you need to create a welcoming and motivating environment for your employees, offer competitive salaries and benefits, and create a work-life balance that matched worker needs.
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.