Length of service of employees increased
Employees in Germany are staying loyal to their employer for longer again. According to a study by the German Economic Institute (IW), which is closely linked to employers, the average length of service recently increased slightly - from an average of 10.9 years in 2019 to 11.0 years in 2021, as the Rheinische Post newspaper quoted from the study on Friday. The main reason for this is the coronavirus pandemic.
According to the study, the number of employee terminations fell by eight percent in the first half of 2020 compared to the same period of the previous year. According to the study, it was below the level of 2017 to 2019 in 2021. The institute based its findings on data from the German Socio-Economic Panel Study (SOEP). Around 15,000 households are interviewed every year.
IW labor market researcher Holger Schäfer explained the stronger job retention primarily with the increased uncertainty during the coronavirus pandemic, as reported by the Rheinische Post. Unlike in the USA, where many employees changed jobs more frequently even during the crisis, the opposite trend was apparent in Germany.
According to the study, employees in banks and insurance companies stay in their jobs the longest, with an average of around 17 years. Employees in the public sector and social services come in second place with an average length of service of just over 16 years. People in the transport sector, the metal and electrical industry, agricultural professions and construction also stay longer in their jobs than the average for all employees. The newspaper quoted the study as saying that job retention is lowest in the hospitality industry, where employees only stay in the same job for an average of just over five years.
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Source: www.ntv.de
