Employee Turnover at Provectus
Contributions to staff retention at Provectus
Company Age
Company Size
Mean Seniority
Industry
Country
Intrinsic
About Provectus
Provectus is an Artificial Intelligence consultancy and solutions provider, helping businesses achieve their objectives through AI. We are recognized by industry think tanks as a leading provider of AI solutions in specific business domains, driven by sophisticated IT service management and tech...
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 Provectus, we estimate average tenue could be increased by 182 days with effective retention programs. We base this number on a comparison of Provectus to other similar companies.
What is driving turnover at Provectus?
Employee turnover at Provectus is primarily driven by in-demand employee skills and company size. Their employees are in high demand in their industry. 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. Provectus may have a smaller number of employees or be a smaller company than average. This is because a smaller company has a tighterknit culture, which makes it easier for employees to get along and feel valued. They are also more likely to be provided with ample opportunities to develop their abilities and to receive feedback on their work. As a result, employees are more likely to stay with a smaller company for a long period of time.
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.