One way our workplace culture generates value is with exceptionally low employee turnover. With an average employee tenure of 10 years, our average voluntary employee turnover is just 3.6 percent in an industry where 15 percent is the norm. That is clearly a value statement focused on our employees, and it happens to create a significant cost savings for SAS.
Another value statement comes from the way we channel those savings into above-average investment in R&D, most recently at about 25% of revenues. The high R&D investment is a powerful statement of our dedication to innovation - another employee-focused value statement in the interesting work enabled by those investments.
In all cases, these ways that SAS uplifts, empowers and values its employees make SAS far more than a mere vendor - we are a consistent, trustworthy and innovative source of business solutions that translates into real value for our customers. Our ability to create value for our customers is spelled out in customer success stories such as these:
- Over 100% through optimized campaigns and service at Scotiabank,
- 137% through better targeting, execution and becoming predictive at office superstore Staples,
- 250% through 360-degree customer views at network services provider Verizon.
And while our 2012 worldwide revenues of US$ 2.87 Billion was our 37th consecutive year of growth and profitability, the best value statement comes from our ability to keep our customer relationships. In 2012, a survey of SAS customers showed that 92 percent of customers were likely to recommend SAS for renewal, and 88 percent were likely to be a customer in five years.
People like to do business with SAS - and our workplace culture is a big part of the reason why. It's a core value statement.