If the majority of your Finance staffers have been with you for 10 years or longer, your firm is ahead of the pack.
At more than half of companies, the average length of employee service is under a decade. That’s according to a recent study by Ceridian in which respondents were asked, “What is your company’s average length of service?”
Here’s the specific breakdown:
- 16 or more years (18%)
- 12-15 years (10%)
- 9-11 years (17%)
- 6-8 years (24%)
- 3-5 years (25%), and
- 0-2 years (4%).
There’s a host of reasons to keep turnover as low as possible. In addition to saving your company on training, high retention rates will actually make the recruiting process much easier for your firm.
Reason: Job-seekers are drawn to employers that are known for having a long-tenured workforce.
Readers: What is the average length of service at your company? Let us know in the Comment section.