Employee Turnover at PrivatBank
Contributions to staff retention at PrivatBank
Founded in 1992, in 2016 PrivatBank became a state bank. It is the largest retail bank in Ukraine, focused on service individuals and SMEs. The bank brings more than 50% of all net profits of the country's banking system, 52% of Ukrainians consider PrivatBank as their main bank. PrivatBank is r...
What is "Avoidable" turnover?
Employee retention at PrivatBank 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, PrivatBank seems to be doing better than most of their immediate competitors.
What is driving turnover at PrivatBank?
Employee turnover at Privatbank is primarily driven by employee seniority and in-demand employee skills. The employees at this company have been with the company for a shorter period of time than the average employee in the same industry. 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 needed by employees at this company are not in high demand. Employers with lower in-demand employee skills typically have lower employee turnover. Employees are more likely to stick around if their job is not too stressful or if they are well-liked by their colleagues. With less stress in their lives, employees are more likely to be content with their job and stay with the company for a longer period of time. Additionally, if the employees do leave, it is likely for more interesting job opportunities.
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.