Tech giant Apple is the worst large company in America for employee retention, according to a study by Resume.io.
Resume analyzed LinkedIn data for the top 20 largest companies in 2023 to establish its results. The median tenure at Apple is 1.7 years, according to Resume’s findings.
Just behind Apple was Amazon and Meta, tied for 1.8 years. Elevance Health and Tesla were also in the top five with 1.9 years and 2.0 years, respectively.
As Resume points out, tech giants comprise three of the five shortest average tenures among company workforces, where employees quit their jobs before their second anniversary.
According to the study write-up, Apple was being celebrated only a few years ago for its retention strategies, with human resources training company Edu Me spotlighting Apple’s successful retention rate. Then Apple began to hamper its employees’ confidence with company stock offerings to engineers that agreed to stay loyal.
According to a piece from 2022 by business news outlet Inc., Apple’s employees began to leave at higher rates because they felt like the monetary incentives symbolized the “inequities” and “general insensitivity within the environment” and could not override the bad company culture.
“Even some of those who received the top-tier stock offer, while flattered, will not be blind to the discrepancies or division within the workplace. It’s something that won’t sit well with everyone — especially not within a corporate culture built on equality and inclusion,” Inc. wrote at the time.
Many other tech companies were included in the top 20 list, including AMD, ServiceNow, SalesForce, Netflix, Nvidia, Paypal, and Alphabet. Paypal and Alphabet came last, retaining their employees for 3.6 years and 3.7 years respectively.
Resume conducted the study to reveal the difference in results that companies see based on whether they provide “excellent support and conditions for their staff.” They wrote that companies may provide incentives to remain employed “out of a feeling of shared humanity” or “simply because it makes good business sense.”
Whether the following companies that retain employees see better results, or whether it incentivizes low-effort behavior, is not discussed by the study. The study does report on the proactive methods employed by these companies, such as awarding scholarships, recruiting veterans, and moving people around to different internal positions to capitalize on “underused potential.”
Resume found that the US company with the longest average tenure is Alaskan oil producer ConocoPhillips, with 10.6 years per employee. Others in the top five include oil giant Chevron, transport company Union Pacific, tobacco company Altria, and gas and electric distribution firm Southern Company.
Many of the corporations in this second list were industrial companies compared to the software-heavy first list.