Employee Turnover at ScienceSoft
Contributions to staff retention at ScienceSoft
Founded in 1989, ScienceSoft is a US-headquartered provider of IT consulting services and custom software development. Among our customers are Walmart, IBM, Nestle, eBay and NASA JPL, as well as many other large and midsize organizations located internationally. • 700+ in-house IT experts and 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 ScienceSoft, we estimate average tenue could be increased by 185 days with effective retention programs. We base this number on a comparison of ScienceSoft to other similar companies.
What is driving turnover at ScienceSoft?
Employee turnover at Sciencesoft is primarily driven by company size and in-demand employee skills. ScienceSoft is a relatively small business. Smaller companies tend to have a higher employee morale and turnover rates are lower because they are able to provide a better tailored work-life balance for their employees. Furthermore, employees are often given more autonomy and are able to work on projects they are interested in. The skills demanded by this company are not in high demand by the market. Employers that require skills that are less in-demand experience lower turnover on average. Employers with a high turnover rate typically see a decline in productivity as well as a significant need for more training and development to keep employees from leaving in the first place. That said, if turnover is unpredictable or difficult to manage, depending on the role, it may be more cost-effective to simply replace departing employees with ones eager to find employment elsewhere.
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.