TALENT ACQUISITION AND RETENTION
New Hires
CDL had 74 new hires in 2022, an increase in the number of new hires from 2021 by 12%. Out of the new hires, 62 were replacements for existing positions and 12 were for newly-created positions.
Employee Retention
Our successful employee engagement is evident from our employees’ length of service. The average tenure of our employees is about 8.8 years. More than 50% of our employees have been with CDL for longer than five years. Our employee resignation rate of 16.8% continued to remain significantly lower than the national average of 20.8% in 2022. CDL experienced an involuntary turnover rate of about 1.5%, of which 0.5% is due to retirement.
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| 11 | Computation of annual employee turnover is based on cumulative monthly attrition rate derived from the number of resignations for the month divided by the headcount for the month. |
| 12 | Extrapolated from MOM’s website as Q4 2022 national resignation rate was not available at the time of publication. |