Software and internet companies had the highest level of employee turnover in 2017 when compared to other major industries, according to data gathered by employment-focused social network LinkedIn.
Silicon Valley is famous for showering employees with perks like free meals, transportation and childcare, not to mention the-in some cases-multi-billion dollar, state-of-the-art office spaces.
However, data available to LinkedIn Premium users, and compiled by the San Francisco Business Times, showed that these perks aren’t enough to encourage longevity at even some of the largest tech companies in the world.
Here’s a look at the average tenure for employees in the Valley’s most famous tech giants:
Uber was at the bottom of the list, with a short average employee tenure of just 1.8 years.
Uber’s latest valuation: $US72 billion
Perks enjoyed by Uber employees (according to self-reported former employees on Glassdoor): Free meals and snacks, unlimited paid time off, gym memberships, discounts for Uber and UberEats services.
Dropbox, which just had a giant IPO, also struggles to retain talent. The average employee stays for 2.1 years.
Latest valuation: $US11.76 billion
Perks (according to self-reported former and current employees on Glassdoor): Three catered meals a day, an on-campus gym, and mobile phone bill reimbursement.
Tesla is in the same league, with employees staying at the electric car maker 2.1 years on average. Tesla employees work famously long hours and weekends, which could explain the relatively early burnout.
Latest valuation: $US50.73 billion
Perks (according to self-reported former and current employees on Glassdoor): Relocation packages and travel stipends, stock options.
Digital payments company Square fared a little better, with an average tenure of 2.3 years per employee.
Latest valuation: $US18.83 billion
Perks: Free meals, extended paternity and maternity leave, work from home options and unlimited PTO.
At Facebook, a 2.5 year stint is the average.
Latest valuation: $US477.93 billion
Perks: Laundry and dry cleaning services, free bikes, onsite dietitians, gym and fitness classes, shuttle services to HQ, child care stipend, and free housing for interns.
Up next, with 2.6 years, is Airbnb.
Latest valuation: $US30 billion
Perks: Company sponsored classes and happy hours, a “quarterly employee travel coupon” worth $US2,000 just for travelling through Airbnb, daily breakfast, lunch, and dinner, dance classes and yoga classes onsite.
Box employees generally stick around for 2.7 years.
Latest valuation: $US2.85 billion
Perks: Nap rooms, flexible (aka unlimited) time off, gym membership and mobile phone subsidies, free lunches and drinks.
Twitter’s leadership ranks have gone through many changes, but the average employee stays with the flock for years.
Latest valuation: $US21.60 billion
Perks: Gym with classes on site, free meals and snacks, company sponsored social activities such as tours of the neighbourhood and running clubs.
Netflix has broken the three year barrier, holding on to employees for an average of 3.1 years, to be exact.
Latest valuation: $US135.24 billion
Perks: Catered lunches, unlimited vacation, extended family leave – and free Netflix access, of course.
Alphabet, the parent company of Google, does A-OK, with a 3.2 year average employee tenure.
Latest valuation: $US718.69 billion
Perks: Free meals at all hours of the day, free cooking classes and speaker series featuring authors, creatives, and celebrities, onsite massage therapists, tuition reimbursement, Google buses…and get this: Death benefits. “Google gives the surviving spouse or partner of a deceased employee 50 per cent of his or her salary for the following 10 years after his or her death,” says this list of unusual work perks on Glassdoor.
The newly built Salesforce Tower is the tallest thing in San Francisco, and the company’s employees stay for 3.3 years on average.
Latest valuation: $US87.06 billion
Perks: Tuition reimbursement, student debt assistance, commuter benefits, a free thousand dollars every year to donate to the employee’s charity of choice.
Apple employees typically hang around for 5 years. And many of them now work in the new $US5 billion “spaceship” headquarters.
Latest valuation: $US886.58 billion
Perks: Discounted Apple products, free private concerts featuring A-listers like Stevie Wonder, Demi Lovato, and OneRepublic, the AppleCare College Program, which helps student employees pay tuition, on-campus doctors and massage therapists.
Adobe: 5.3 years
Latest valuation: $US110.33 billion
Perks: Gyms, commuter stipends for public transportation, sabbatical time every five years, tons of free food.
At Oracle, known for a hard-edged culture, a 7-year tour of duty is normal.
Latest valuation: $US188.11 billion
Perks: “Corporate rates” for everyday purchases “like diapers and groceries to big ones like cell phones, computers, and vacation,” work from home options, unlimited time off.
And, at the top of this list is Cisco with an average employee tenure of 7.8 years.
Latest valuation: $US207.15 billion
Perks: Onsite gym, 5 paid days off per year to do volunteer work, tuition reimbursement, each team is given a quarterly allowance to spend on social activities.
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