1,7 year is the average tenure for employees in 10 biggest tech companies in the last few years (Business Insider, 2017):
If your company does not face this problem now, it probably will in the near future.
€17M yearly cost at a 1000-people company is calculated based on: current employee attrition rate at an average level of 20-30% for tech, coming managers’ attrition rate at a level of 40-60%, and attrition cost up to 150% of annual salary (40K EUR).
Companies now struggle with the change in the workplace triggered by the pandemic: uncertainty, increased workload, more collaboration or less bonding and connectivity.
As a consequence: 90% of employees experience burnout, 64% of employees are ready to quit, and managers’ jobs become 10x harder (Humu, 2022).
Managers are struggling and don’t feel equipped to deal with sky-high levels of teams’ workload and burnout.
That’s why they are at higher risk of leaving, than Individual Contributors (Humu, 2022).
