Workforce�Insights

R&D Solutions

April 22, 2022

Guy Bartoli, Data Analyst

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Agenda

• Introduction
• Company Attrition
• Employee Insights
• What’s next
• Questions

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Introduction

The Great Resignation continues to affect employee retention across a vast number of industries. From October 2021 to February 2022, about 3% of workers are quitting monthly within the US Labor Market.^[1]

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Today’s presentation will provide an overview to current attrition rates and review results of the workforce survey.

_{[1] Source: U.S. Bureau of Labor Statistics https://www.bls.gov/news.release/jolts.t04.html}

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Company Attrition

Let’s dive in

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Employment Rates

• Company attrition is at 16% with the goal to achieve a “healthy” attrition rate of 10%.

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• Sales and Human Resources are above average with the highest employment termination rates.

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• Research & Development contains 65% of the workforce and represents the lowest attrition rate.

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Job Role Attrition

• The above graph displays the distribution of all 237 employment terminations across applicable roles.
• Lab Technicians, Research Scientists, Sales Executives, and Sales Reps account for 84% of attrition suggesting significant opportunity for reducing turnover with further analysis.

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Company Seniority

• Employees within their first 2 years of service are 35% likely to quit.

• The employment termination rate is halved during years 2-5 showing the importance of the first 2 years of employment

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• Once an employee crosses the 10 year mark, the attrition rate drastically lowers to 10%.

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Employee Age

• Ages 26-33 represent 41% of all employment termination.

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• This age group represents a pipeline of growing professionals with an average of 7 years work experience.

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• Collecting more detailed data on their termination would provide clearer insights to what is motivating this work group and how an increase in retention rates could be achieved

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Employee Insights

The Human Factor

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Survey Overview�

Scoring Scale of 1-4

1: Low, 2: Medium, 3: High, 4: Very High

Job Involvement

The emotional extent which an individual participates in their work, profession, and company.

Job Satisfaction

A feeling of fulfilment or enjoyment derived from the individual's job.

Work Life Balance

The ability to manage demands of an individual’s professional and personal life.

Environment Satisfaction

A feeling of contentment towards their physical workplace setting.

Relationship Satisfaction

An interpersonal evaluation of immediate professional relationships.

What did we measure?

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Employee Survey Results

Job Satisfaction

2.73

Environment Satisfaction

Job Involvement

Work Life Balance

Relationship Satisfaction

2.72

2.73

2.76

2.71

• Employee Results may be viewed by Department and Job Role through this Tableau Dashboard

*Scoring Scale of 1-4

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Survey Summary�

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• Work Life Balance ranked 1^st as the strongest attribute indicating employees feel lower amounts of work-related stress resulting in lower rates of burn out within the workforce.

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• Job Satisfaction and Job Involvement ranked 2^nd indicating employees find a good level of fulfilment and participation with their professional demands.

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• Relationship Satisfaction ranked last showing opportunity to build stronger positive employee relations and collaboration within the workforce.�

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What’s Next?

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• Gather additional information on classification of employment termination, effective dates, and exit interview data to more clearly understand areas of high attrition.
• Develop departmental retention initiatives to stimulate strong interpersonal relationships and employee satisfaction (retention focus to grow company seniority)
• Conduct quarterly surveys to monitor change to employee sentiment

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Questions?

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