HomeTechnology'Remorse': Amazon loses employees it wants to keep faster

‘Remorse’: Amazon loses employees it wants to keep faster

Leaked documents have reportedly shown Amazon employees leaving twice as often as in previous years due to low wages and increased competition. The documents show that Amazon “regrets” the loss of employees it wants to keep, more than 12 percent, more than double the recent average.

Business Insider reports that Amazon is facing serious employee retention issues, with leaked documents showing that employees leave twice as often as in previous years. Since June 2021, Amazon’s internal metric called “regret” has reportedly reached 12.1 percent, doubling the average for previous years.

Amazon CEO Andy Jassi (Isaac Brekken/AP)

An employee carries a package at the distribution center of American e-commerce giant Amazon in Mönchengladbach on December 17, 2019.  (Photo: INA FASSBENDER/AFP) (Photo: INA FASSBENDER/AFP, Getty Images)

(Photo by INA FASSBENDER/AFP via Getty Images)

From 2016 to mid-2021, the company’s dismal loss rate reached five percent. The metric refers to the proportion of employees that Amazon does not want to lay off, usually as a result of a voluntary layoff. Amazon is also tracking “brutal” layoffs, the number of employees the company wants to lose.

Increasing resignation regret was reportedly one of the consequences of rising inflation. With rising wages and competition for talent, it’s easier for high-value employees to find better opportunities elsewhere, where many are leaving quickly.

Amazon employees told Business Insider that Amazon’s relatively low wages, stagnant stock prices and a hard-and-hard work culture contributed to the rise in layoffs. Amazon has sought to address these issues by raising the base salary cap for corporate employees and is poised to spend record amounts on employee stock grants.

The increase in employee turnover at Amazon is remarkable because the company previously prided itself on retaining talented employees and top executives. In 2019, Amazon CEO Andy Jassi served as Amazon Web Services CEO, keeping his team’s attrition rate at 4.75%. Peter DeSantis, Senior Vice President of Global Infrastructure, AWS, successfully maintained his team’s 4.83% score.

Read more about Business Insider here.

Source: Breitbart

- Advertisement -

Worldwide News, Local News in London, Tips & Tricks

- Advertisement -