The South African company employees don’t want to leave

A recent study revealed that Nedbank has the highest retention rate in South Africa, with most employees staying at the company for over a decade.

Moorepay, the United Kingdom’s largest payroll company, sourced median employee tenures from LinkedIn company profiles of over 3,100 major companies worldwide to determine which have the highest retention rates.

They considered companies in every country with the highest market caps and any other notable brands. They then mapped the top company for employee retention in every country.

Globally, Greek firm Intracom Holdings had the best employee retention of any major firm worldwide, with a median tenure of 16.8 years. In South Africa, Nedbank emerged as the company with the longest employee retention rate.

Nedbank Group Executive of Human Resources Deb Fuller told Daily Investor that as of October 2025, the company had a median tenure of 11.7 years, even higher than the 11.3 years reported by Moorepay in its study.

“Nedbank is proud to be ranked as South Africa’s top company for employee retention, measured by median tenure,” Fuller said.

“This recognition is not just a statistic – it’s a testament to our culture and the deliberate choices we make to create an environment where people choose to stay and build their careers.”

As of October 2025, 56.8% of Nedbank’s workforce have had tenures of 10 years or more. The company’s turnover rate is currently 7.2%, down from 8% in December 2024.

“These figures reflect a workplace where employees feel valued, supported, and motivated to remain part of Nedbank’s journey,” Fuller said.

Moorepay is not the only institution which has shed a positive light on Nedbank as an employer. The bank was also included in the 2025 Forbes World’s Best Employers list – 5th in financial services globally and 2nd in South Africa.

Keeping and finding the best talent

While retaining employees is a priority, the bank is also consistently looking to bring in new talent. “In a dynamic talent landscape, our Employer Brand is a magnet for top talent,” Fuller explained.

“We attract people by authentically living the Nedbank Way as the anchor of our People Promise (employee value proposition) – Be the difference that impacts our world.”

According to Fuller, there are several factors that make Nedbank a top destination for both attracting and retaining talent. First is its focus on putting purpose into practice.

“Our purpose – to use our financial expertise to do good – anchors how we work and why we stay. This sense of purpose creates deep connection, meaning, and shared impact, with 80% of our workforce proud to tell others they work at Nedbank,” she said.

“Prospective talent is drawn to our purpose-led culture, which allows them to make a real difference while building their careers.”

Fuller explained that the bank’s “client obsession” is another key draw for both current employees and prospective talent.

Nedbank’s Net Promoter Score (NPS) ranked first among the large South African banks in 2024 (Kantar survey), when surveying all clients.

It also has a positive employee NPS, with 72% of its workforce saying they would recommend Nedbank as a great place to work. 84% of Nedbankers also cited that they feel empowered to act in the client’s best interest.

“Employees see the value they create for clients, reinforcing their sense of contribution and pride. Our differentiated employee experience drives market-leading client experiences,” Fuller said.

“We find that talent that comes to Nedbank wants to work for organisations that deliver value and create meaningful – rather than merely transactional – client experiences.”

Fuller said Nedbank’s values-driven culture, represented through its “do the right thing and do things right” approach, fosters psychological safety, honesty, and accountability.

“Our values attract people who want to work somewhere they can be proud of. At Nedbank, we do business the right way, with the highest standards of integrity and transparency.”

Company culture

Voted the Best Bank in South Africa in the 2025 Global Finance Magazine Awards, Fuller said Nedbank drives a high-performance, ‘play to win’ culture.

“When people are part of a winning team that balances high performance with human-centricity and well-being, they want to stay. 84% of our people are clear on what high performance looks like and are confident in leadership decisions,” she said.

“We offer the excitement of being part of a winning team that’s hungry for success while maintaining human-centred leadership and supporting wellbeing.”

Nedbank also emphasises teamwork and collaboration, fostering a sense of shared impact and strengthening the bank across all roles, business areas, and regions.

“74% of colleagues report that in our teams, we engage in conversations that challenge current thinking to foster growth, underscoring the value of our collective strength,” Fuller said.

“We demonstrate that collaboration and teamwork deliver solutions that help us put our purpose into practice. Talent is attracted to being part of something bigger than themselves.”

Nedbank has also been named South Africa’s Best Bank for Diversity and Inclusion in the 2024 Euromoney Awards, reflecting the bank’s diversity, equity, and inclusion focus.

“77% of Nedbankers feel that diverse backgrounds, talents and perspectives are valued in their business areas,” Fuller added.

“We actively seek diversity in our teams, thinking and views, so Nedbank is a place of dignity, respect and belonging.”

Finally, Fuller explained that Nedbank fosters continued learning and career growth, with 82% of employees agreeing that the bank provides an environment for ongoing development.

“We offer clear career progression, particularly in scarce areas like data analytics, AI, cyber and risk management – with the resources and support to help prospective employees continuously develop,” she said.

“Our industry-leading investment in training and skills development makes Nedbank a great place to grow – and stay.”

Attrition rates decline

Nedbank has also improved its attrition rate, from 9.2% in 2023 to 8.0% in 2024, which Fuller said reflects the execution of its Human Capital Strategy to attract, grow, and retain top talent.

Embedding human-centred culture to enhance the employee experience and building critical capabilities ahead of demand, with academies for specialised skills and ongoing reskilling/upskilling, has also contributed to the improvement.

Nedbank has also launched its Internal Talent Marketplace to unlock growth opportunities, empower career development and promote internal mobility.

Expanding reward solutions, such as competitive remuneration, benefits, and incentives, as a retention lever for critical, highly mobile skills, also helped lower Nedbank’s attrition rate.

Finally, Fuller attributed the improvement in attrition to the enhancement in leadership development and succession practices, ensuring readiness.

“Nedbank’s retention success is no accident; it’s the result of a culture where purpose, belonging, and growth are real and lived every day. Our people stay because they find meaning, opportunity, and support in our organisation,” she said.

“That’s why our median tenure and declining turnover are more than numbers – they’re proof that Nedbank is a place where people choose to build their futures.”