In the last two months, five of our employees have celebrated 25 years’ at Teknek. This monumental quarter-century milestone was the instigator for a review of employee length of service.
Research by life insurance firm LV found that a UK worker will change employer every five years on average. Teknek employees buck that trend. We have an enviable record for attracting and retaining colleagues as demonstrated by our staff service records. 57% of all staff have more than 10 years’ service, 26% have more than 25 years’ service and around 10% have more than 30 years’ service. This accumulated knowledge and experience is one of our greatest strengths.
The average UK annual employee turnover rate is 19%. At Teknek, this year to date, we have a 12% turnover rate, with retirements and temporary contracts accounting for two-thirds. Low employee turnover rate can have a significant impact on productivity and revenue. Our exceptionally loyal workforce has a major role to play in our ability to maintain our status as the world leader in our field.
At Teknek, one of our core values is Knowledge. With more than half of Teknek staff accruing over a decade of service, they have acquired a wealth of experience that is invaluable and contributes to our ability to continue to deliver the exceptional service Teknek is known for.
People make Teknek and our loyal employees are the backbone of our business.