Employee Turnover at Samsung Electronics
Contributions to staff retention at Samsung Electronics
Company Age
Company Size
Mean Seniority
Industry
Country
Intrinsic
About Samsung Electronics
Samsung Electronics is a global leader in technology, opening new possibilities for people everywhere. Through relentless innovation and discovery, we are transforming the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, medical devices, semiconductors a...
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 Samsung Electronics, we estimate average tenue could be increased by 61 days with effective retention programs. We base this number on a comparison of Samsung Electronics to other similar companies.
What is driving turnover at Samsung Electronics?
Employee turnover at Samsung Electronics is primarily driven by employee seniority and company size. The employees at this company are less experienced than the industry average. The employees who are most experienced and knowledgeable about the company's business tend to leave less often. There are many reasons why employees may leave a company. Some employees may feel that they no longer have a place in the company's future, while others may feel that they are not given the opportunity to grow in their careers. Others may simply find a new job that they enjoy more. However, increased employee turnover can also be caused by factors beyond the employee's control. For example, a company's salary and benefits may not be competitive enough with those of other employers, or the work schedule may be too demanding. Samsung Electronics has a large workforce compared to the most companies we examined. Businesses with a smaller workforce tend to have more loyal employees. Large companies, on the other hand, typically have a high employee turnover rate because there are more opportunities for employees to leave and find a new job.
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.