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

Atlassian billionaire boss Mike Cannon-Brookes is losing staff after just one year as technology companies worldwide struggle with high turnover.

The co-founder of the software group, who recently divorced his wife Annie, is struggling to retain staff for more than a year on average, new data shows.

A analysis of LinkedIn data from career guidance group Resume.io found that staff stayed with Atlassian for an average of just one year and one month, making it the second worst for employee retention out of a list of 100 major Australian companies.

Only electric vehicle maker Liontown fared worse, retaining staff for just seven months.

READ MORE: Companies where staff stay the longest

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

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

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

‘The pursuit of profit, position in the market and shareholder return can get in the way.’

Atlassian disputed the criticism and questioned the methodology, arguing that a recent wave of hiring at a growing company would cause the average employment rate of existing staff to drop.

While Atlassian was recruiting massively in 2021 and 2022, it announced in March that it would cut 500 staff, or five percent of its workforce, over forecasts of declining revenues, which are hitting the tech sector.

Daily Mail Australia was given data showing that 57 per cent of staff had been with the company for two years or more, 43 per cent for three years or more and 22 per cent for more than five years.

Atlassian, an Australian company listed on the US Nasdaq stock exchange, offers its staff 100 percent paid health insurance premiums, fitness benefits, assisted reproduction support and financial planning advice, and a culture where employees can speak their mind.

Data from the Australian Bureau of Statistics for February showed that 56 percent of employees have been with their company for less than five years.

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

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

The unemployment rate in the US remained at 3.5 percent during the same period, the lowest level since 1969.

In both Australia and the US, employees of technology companies are on average shorter.

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

Atlassian expressed support for the Indigenous Voice to Parliament last month 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 a year and a month, making it the second worst of a list of 100 major companies

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

“With our heritage also comes a difficult and troubling history that we must continue to confront, recognizing the lasting impact it has on Australia’s First Nations people.”

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

But these companies have a much better record for retention, as flying kangaroo airline Qantas retains employees on average for eight years and seven months.

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