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Feature:

The Turnover Myth

Turnover at the "Best Companies to Work For"

People don't quit jobs at Wegmans like they do at other grocers.

TURNOVER AT THE "BEST COMPANIES TO WORK FOR"
Fortune includes voluntary turnover rates as a metric in its annual "Best Companies to Work For" list, but rates vary widely, even among companies in the same industry. Among grocery retailers, for example, voluntary turnover at Wegmans is just 6 percent, compared with 32 percent at Whole Foods.
Voluntary turnover rates at top 20 companies on Fortune’s 2005 "Best Companies to Work For" list for large companies:
1. Wegmans Food Markets	6%
2. Starbucks	12
3. Valero Energy	29
4. Cisco Systems	3
5. Whole Foods Market	32
6. Baptist Health S. Florida	7
7. Amgen	5
8. Goldman Sachs	11
9. American Express	14
10. Synovus Financial	14
11. Four Seasons Hotels	16
12. Station Casinos	14
13. A.G. Edwards	9
14. Microsoft	5
15. General Mills	4
16. Principal Financial Group	8
17. Marriott International	18
18. Procter & Gamble	7
19. First Horizon National	16
20. Medtronic	6
Source: Fortune, January 24, 2005

Workforce Management, June 2005, p. 40 -- Subscribe Now!

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Feature Contents
Top of Feature

1. Recalibrating Turnover-Cost Calculators
Turnover can produce substantial savings in employee benefit programs.

2. Turnover at the "Best Companies to Work For"

3. Applebee’s Turnover Recipe
The restaurant chain segments its workforce into performance-based categories, with different retention goals for each group.

4. The Cost of Turnover
A worksheet for use in calculating what turnover costs. It includes direct costs, such as the cost of background checks, as well as indirect costs, such as lost productivity.

Related Topics

Retention

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