Are you someone who wants to work with Amazon? If yes, then keep reading! Amazon is a very prestigious name in the platform of e-commerce. It is one of the leading businesses leaving many similar companies behind. Amazon is a billion rupees market and if you want your name associated with the same, that is an incredible thought. Let us know about that the Amazon Turnover Rate in 2023.
But before entering into any company, or applying to any company it is always a wise decision to know everything about it. What does “everything” mean?
An important aspect that you should consider checking about the company you are interested in are: –
- Pay cycle, of course
- Work-life balance
- Turnover rate
- Organizational structure
- Employee benefits
All the factors are important and have their role. But, do you know the turnover rate is the determining factor of any company selection process? You must be wondering what is the turnover rate. We have got you covered, don’t worry.
What exactly is the turnover rate?
The turnover rate is the number of people or the specific number of employees that leave the company in a certain period of time. No matter what offers you provide, no matter the pay scale or the employee benefits if people are leaving, then the turnover rate is high meaning there is something wrong with the lucrative offer.
If the turnover rate, also known as the attrition rate, is high it is pressure on the hiring manager and the company. The company needs to constantly hire people to fill up the vacancies. This increase will force the company to hire people who cannot provide value to the company. In turn, the company value will just decrease.
So yes, looking at the turnover rate of the company is crucial. Now coming back to the point. Amazon is a huge success there is no denying that fact. But what about its turnover rate?
Amazon’s Turnover Rate
There have been researches made and done. Various companies go through the process and then the turnover rate is decided. When Amazon went through the process, it showed that Amazon’s turnover rate is 150% annual turnover rate.
You must be thinking what is the ideal number? It is 10-12%, yes you heard me right! Companies’ retention and turnover rates speak a lot about their internal organization.
This is not to derail you from your Amazon dream, but to make you come face-to-face with reality. Amazon in an interview denied the turnover rate ratio shown, but as the research said it was proved.
So, is Amazon’s turnover rate high? Yes, very high. Indeed, let’s say it is in a crisis state.
Reason for Amazon’s high turnover rate or Attrition rate
When the former employees who left Amazon, voluntarily or involuntarily were interviewed few reasons came up. Here are the few reasons mentioned below: –
- Relentless work
- Pressure resulting in employees getting burnt out
- Less or no pay during paternal leaves
- Undefined HR policies
- Policy changing without information to the current employees
- Fewer facilities for Mothers who are working
- Compensation structure not being clear
- No proper planning of the projects dealt
- Cutthroat competition
- Cultural differences
- A very demanding place to work
- Low flexibility
- People claim it is a toxic work environment
- Way too much work pressure
- Work in the queue and not much staff to handle
Though people say that working at amazon is rewarding because the pay is quite high but what is the point? When a company cannot provide benefits to its employees and cannot stop them from taking their resignation, pay doesn’t work.
The pay scale of amazon is quite high, and so is the turnover rate. It is surprising that such successful companies as Amazon also can have a toxic work environment. It must be a rewarding place, but work should feel like a second home and employees should enjoy it rather than take the pressure.
This article was all about the turnover rate of Amazon. If you see your future working in Amazon, this is just a heads-up. Amazon is a very well-leading industry and though the attrition rate seems in a crisis state, I am sure that Amazon will be working on it.
Moreover, turnover rates play a crucial role because as an employee we only see these rates and creative thinking about how the company is working internally. Amazon, on the other hand, might be working very hard and providing a comfortable lifestyle to their employees, but the turnover rates show us a different picture.
Don’t worry, this article is not revenge on amazon. We have no grudges, I swear. But as an analyst, you need to understand everything about a company before you step into it. Good luck to learn more about Amazon!