The company with the longest average tenure in the United States is ConocoPhillips, boasting an impressive 10.6 years. On the other end of the spectrum, Apple has the shortest average tenure at just 1.7 years. This stark contrast highlights the varying levels of employee retention across different companies.

Ben H.

Ben H.

Sep 04, 20233 min read

0

The company with the longest average tenure in the United States is ConocoPhillips, boasting an impressive 10.6 years. On the other end of the spectrum, Apple has the shortest average tenure at just 1.7 years. This stark contrast highlights the varying levels of employee retention across different companies.

ConocoPhillips, Alaska's largest crude oil producer, takes the lead in employee retention, particularly in the energy and engineering sectors. One of the factors contributing to their success is their ability to attract young talent through university scholarships. By investing in the education of aspiring professionals, ConocoPhillips establishes a strong foundation for long-term commitment. Additionally, the company offers challenging and rewarding projects around the world, appealing to military veterans seeking secure yet exciting work opportunities.

Altria Group, ranked joint second in employee retention, stands out as the only retailer company in the top 20. Despite being embroiled in an existential struggle to pivot to smokeless tobacco, Altria Group manages to retain its employees by constantly providing new challenges. From the very start, employees are encouraged to move between roles and departments, fostering a culture of growth and development. This thoughtful and purposeful process also aims to uncover underused potential within the organization.

Interestingly, some of America's most famous brands struggle to retain their talent. Companies like Tesla, Goldman Sachs, Netflix, Mastercard, and Alphabet (Google) find themselves among the bottom 20 in terms of employee retention. The three worst performers—Apple, Amazon, and Meta (Facebook)—struggle to hold onto employees for more than two years.

Apple, in particular, was once praised for its retention strategies. However, an ill-advised move to dissuade engineers from defecting to Meta or other competitors backfired. Apple offered stocks worth $50,000 to $180,000 to those who remained loyal. Unfortunately, this created divisions within the company, leaving even the recipients of the bonus feeling undervalued. This incident shed light on deeper workplace issues that went unaddressed.

In a different vein, WellCare has partnered with Somatus Inc. to establish a care management program for members with end-stage renal disease (ESRD) and chronic kidney disease (CKD). Effective May 1, 2021, this program aims to provide comprehensive support and care for qualifying patients. By offering specialized care for individuals with CKD/ESRD, WellCare demonstrates a commitment to improving patient outcomes and overall well-being.

To ensure better employee retention within companies, regardless of their industry, there are several actionable pieces of advice to consider:

  • 1. Establish a culture of growth and development: Encourage employees to explore different roles and departments within the organization. This not only helps uncover hidden potential but also keeps employees engaged and motivated.
  • 2. Address workplace issues: Take proactive measures to address any underlying workplace issues that may be affecting employee morale and loyalty. Open communication channels and a supportive work environment can go a long way in retaining valuable talent.
  • 3. Offer competitive compensation and benefits: While financial incentives should not be the sole focus, it is important to provide competitive compensation and benefits packages to attract and retain top talent. This includes fair and transparent stock options and bonuses that align with employees' contributions.

In conclusion, employee retention remains a challenge for many companies, with some industries struggling more than others. While companies like ConocoPhillips and Altria Group have found success through their unique approaches, others, such as Apple and Meta, have faced setbacks in their retention strategies. By incorporating actionable advice and prioritizing employee growth, addressing workplace issues, and offering competitive compensation, companies can strive towards better employee retention and create a more stable and productive workforce.

Resource:

  1. "The companies employees don’t want to leave in 2023", https://resume.io/blog/the-companies-employees-dont-want-to-leave-in-2023 (Glasp)
  2. "New Somatus Care Management Program for patients with CKD/ESRD | Wellcare", https://www.wellcare.com/en/Florida/Providers/Bulletins/Somatus-Care-Management-Program (Glasp)

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