![]() ![]() ![]() For more than 100 years, Mars has been manufacturing a wide variety of food and beverage products, including candy, snacks, and dog food, and their employee turnover rate currently stands at a mere 5 percent. Mars is a 100 percent family-owned company, and loyalty to the company seems to run in families, too: several families have worked for Mars for generations. Eligible full and part-time employees can receive tuition reimbursement for online education programs, get health benefits and paid time off, and take advantage of the discounted stock purchase plan and equity reward program. Starbucks also provides plenty of concrete benefits that other restaurants in their sector of the industry don’t always offer. Starbucks keeps long-term retention in mind from day one of the hiring process: employees report positive, welcoming interview experiences, they enjoy a relaxed dress code on the job, and they get to participate in the Starbucks Partners program by sharing their days on the job on the company’s Snapchat. But in comparison to other quick-serve restaurants, their efforts toward better employee retention have paid off - the average turnover rate in the industry ranges between 150-400 percent. StarbucksĬompared to many other companies, Starbucks has a relatively high turnover rate of 65 percent for full-time employees. By offering great benefits packages, fun on-site perks, development opportunities, and fostering company cultures that bring employees together, these companies are lowering full-time turnover and boosting retention rates. Several major food and beverage brands are already leading by example. It’s easy to see why the vast majority of human resources departments say that improving employee retention has become a high priority. ![]() Compare this to 2018 when the Bureau of Labor Statistics reported the average employee tenure was 4.3 years for men and 4.0 years for women. It’s never been more difficult to attract and retain today’s workers.Įmployee tenures at companies have been cut in half - the average employee tenure at some high growth companies is estimated to be 1.8 years. While the Great Resignation will evenutally subside in time, the reasons behind it will continue to define the future of the workplace.Įmployees now have higher expectations when it comes to flexbility and professional development (hello, upskilling). For better or worse, the pandemic accelerated workforce trends that were already taking shape before 2020. ![]()
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