Why Atlassian billionaire Mike Cannon-Brookes is losing staff after they stay just one year

Billionaire Atlassian boss Mike Cannon-Brookes is losing staff after just a year as tech companies grapple with high turnover.

The software group’s co-founder, who recently split from his wife Annie, is struggling to keep staff for more than a year, on average, according to new data.

An analysis of LinkedIn data by career coaching group Resume.io found that staff stayed at Atlassian on average for just one year and one month, making it the second worst for staff retention among a list of 100 major Australian companies.

Only electric vehicle battery maker Liontown fared worse, keeping staff for only seven months.

READ MORE: Companies where staff stay the longest

The typical BlueScope employee has been there much longer, with staff staying an average of nine years and eight months.

Amanda Augustine, career coach at Resume.io, said companies with high turnover tend to have work cultures where staff don’t feel valued.

“Not all companies put their employees first,” she told Daily Mail Australia.

“The pursuit of profit, market position and shareholder returns can get in the way.”

Atlassian took issue with the reviews and questioned the methodology, arguing that a recent wave of hiring at a growing company would reduce the average tenure of existing staff.

While Atlassian has been on a hiring spree in 2021 and 2022, in March it announced that 500 employees, or 5% of its workforce, would be laid off due to lower revenue forecasts, which are hitting the tech sector. .

Daily Mail Australia received data showing that 57% of staff had been there for two years or more, 43% remaining with the company for three years or more and 22% for more than five years.

Atlassian, an Australian company listed on the U.S. Nasdaq stock exchange, offers staff 100% paid health insurance premiums, fitness reimbursement, assisted reproduction support and financial planning advice, and an enabling culture. staff to express their opinions.

Australian Bureau of Statistics data for February showed that 56% of workers had been with their company for less than five years.

A third, or 35%, had been in their current job for one to four years.

Australia’s unemployment rate in July rose to 3.7%, up slightly from a 48-year low of 3.5% in June as 14,600 people lost their jobs.

The unemployment rate in the United States for the same period remained at 3.5%, the lowest level since 1969.

In Australia and the United States, employees of technology companies have been there for less time, on average.

At Apple, it’s a year and eight months, compared to a year and 10 months for Amazon and Facebook’s parent company, Meta, according to Resume.io’s analysis.

Atlassian last month declared its support for Indigenous voices in Parliament with Mr Cannon-Brookes and co-founder Scott Farquhar posting a message on their website.

“As a proud Australian company, we will support the YES vote,” they said.

An analysis of LinkedIn data, by career coaching group Resume.io, found that staff stayed on average for just one year and one month, making it the second worst among a list of 100 major companies.

Amanda Augustine, career coach at Resume.io, said companies with high turnover tend to have work cultures where staff don’t feel valued.

“Our legacy also comes with a difficult and troubling history that we must continue to confront, recognizing the lasting impact this has on Australia’s First Nations people.”

They have joined major corporations, including Qantas and Wesfarmers, in advocating yes.

But those companies have a much better staff retention record with flying kangaroo airline Qantas keeping employees for an average of eight years and seven months.

Wesfarmers, the owner of Bunnings hardware and Officeworks, kept staff for six years and eight months.