One of the best ways to find a “best company to work for” is to look at retention rates.
If employees are regularly staying less than a year before moving on, generally, that’s a good indication the company isn’t the best place to work, for whatever reason. If a company has employees who regularly stay longer than, say, five years — that then tells prospective talent that the company must be doing something right.
Resume creator platform Resume.io analysed companies in the US, UK, Canada and Australia to understand their retention rates in 2023. The platform looked at the LinkedIn pages of the top 100 companies by market cap in the US, UK, Canada and Australia to find its employees’ average tenures. They then ranked the companies to find which are the best at retaining their staff.
Key findings? In the US, the longest average tenure is at ConocoPhillips, Alaska’s largest crude oil producer, with employees working there an average of 10.6 years. This is likely due to the company offering university scholarships to attract young talent, as well as “challenging and rewarding projects around the world” for military veterans looking to transition into secure work.
Interestingly, among US companies, Apple had the average shortest employee tenure at 1.7 years. Amazon in the US had an average of 1.8 years, as did Meta.
In Australia, the top employee-retaining company is steel supplier and manufacturer BlueScope Steel, with employees staying an average of 9.7 years.
The company has 8,000 employees and contractors across its 35 sites. Resume.io’s report says the company recently offered employees gift cards in recognition of a tough, but fruit COVID and post-lockdown period. BlueScrope’s HR manager, Rebecca Roberts, says the scheme was so touching the company’s security guards celebrated with cartwheels.
Also among the Australian companies with the highest retention rate is Qantas, Telstra, ANZ and Lendlease.
On the other end of the spectrum, at Liontown Resources, a company focusing on battery materials, employees stayed an average of 0.6 years. Atlassian came next, with 1.1 years, then Ansell with 1.4 years.
Ahead are the full rankings of Australian companies employees don’t want to leave in 2023. You can find the full rankings, including that of companies employees are leaving, on Resume.io’s blog here.