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Retention Metrics
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Retention Metrics
Discuss workforce management, performance management, retention, communication, motivation, contributing to business results and other topics.
I'm looking for some clarification on a number of metrics. Your input is greatly appreciated. I have been calutating these with the following formula:
Monthly Turn-over rates:
number of resignat
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Forums » Topic Forums » General Forum » Retention Metrics
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Retention Metrics
posted at 2/5/2009 8:44 AM EST
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Posts: 31
First: 10/28/2008 Last: 7/8/2011 |
I'm looking for some clarification on a number of metrics. Your input is greatly appreciated. I have been calutating these with the following formula:
Monthly Turn-over rates: number of resignations in a month/(number of employees starting month + number of hires during month) Attrition: number of total resignations at a certain point/current number of employees I'm trending this throughout year and use numbers on the last day of each month. For instance for 2008, we had 11 resignations and a total current staff of 55. 11/55 = 20% Attrition Rate for 2008. Is this accurate? |
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Retention Metrics
posted at 2/6/2009 3:25 AM EST
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Posts: 31
First: 10/28/2008 Last: 7/8/2011 |
Thank you for the response.
I have seen the 'using an average' of employees throughout the year before. I guess my question then becomes, why use an average? If we are trying to get a true value for the number of people who have left our organization (both voluntary and involuntary) why not use actual numbers vs. average? |
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Retention Metrics
posted at 2/7/2009 3:51 PM EST
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Posts: 2442
First: 2/12/2000 Last: 9/14/2011 |
You can use "actuals" but not sure that it will be the true measure. For example. You start with 66 people on January first and on December 31st you have 55 people.
So is the turnover rate 11/55 or 11/66? What if during the year 11 more people left but you replaced them and still end the year with 55. What is the turnover rate? Now consider, suppose you start the year with 66 and end the year with 66 but you lost and replaced 11 people during the year. What is the turnover rate? |
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Retention Metrics
posted at 2/12/2009 5:27 AM EST
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Posts: 1
First: 2/12/2009 Last: 2/12/2009 |
I would also add -
Are you looking at the reason/s people are either voluntarily leaving or involuntarily? Is it the culture of the organization that needs to be fixed? Is it the management or Manager that needs training? Is it the individual or all of the above. Why would an HR manager want to measure these things? We need to ensure we are looking at all variables, RIGHT! Dani Blanchard Flores |
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