Employee Turnover at Tietoevry
Contributions to staff retention at Tietoevry
In a rapidly changing world, technology is everything. It's in the fabric of society. In every part of every business. At the very heart of human evolution. It’s a great power that comes with great responsibility. At Tietoevry, we believe it’s time to shift perspective. It’s not about what techn...
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 Tietoevry, we estimate average tenue could be increased by 189 days with effective retention programs. We base this number on a comparison of Tietoevry to other similar companies.
What is driving turnover at Tietoevry?
Employee turnover at Tietoevry is primarily driven by in-demand employee skills and employee seniority. While there are many skills required by this company, the pool of employees with those skills is larger than average. 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. Their employees have more years of experience than average. Junior employees tend to leave a company more frequently for higher-paying jobs with more prestige or for more congenial work environments.
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.