Retention and Turnover

SPO


Retention and Turnover



SPO continuously strives to be an Employer of Choice and to retain valued employees whether at sea or ashore throughout the industry downturn.


SPO continuously strives to be an Employer of Choice and to retain valued employees whether at sea or ashore throughout the industry downturn.


The retention rate for seagoing employees decreased in 2020 due to the downsizing of the business and sale / transfer of vessels and the IPO of SBO in November 2020. The retention rate fell down to 75.2% from 95.2% in 2019.


For our shore-based employees, the retention rate has also decreased to 72.3% from 85.5% the year before.


Retention rates for both shore-based and seagoing employees covering voluntary vs. involuntary departures, is included in the Data section.


Turnover by key location was also high for selected countries and regions but mostly because of the small number of regional employees. Singapore continued to have a high turnover rate (at 44%) which is consistent year-on-year. Singapore employees have the highest expected turnover rate in Asia Pacific, with 46% likely to leave their jobs within a year.*


*HRD Asia website


For details on the new hires and turnover rate by age group, gender identity and region see the Data section.


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SPO continuously strives to be an Employer of Choice and to retain valued employees whether at sea or ashore throughout the industry downturn.
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