Employee Turnover at PwC
Contributions to staff retention at PwC
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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 PwC, we estimate average tenue could be increased by 67 days with effective retention programs. We base this number on a comparison of PwC to other similar companies.
What is driving turnover at PwC?
Employee turnover at Pwc is primarily driven by employee seniority and company size. The employees at this company are more junior than average. 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. PwC has a large workforce compared to the most companies we examined. 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.
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.