Forums
How to forecast the turnover rate?
Recruiting & Staffing
How to forecast the turnover rate?
Exchange ideas about sourcing, screening, interviewing, finding passive candidates, measuring your results, and more.
Dear all,
Any one who could provide me a model of forecasting the employee turnover rate?
Or anyone of you might share your experience on building a company's own model of forecasting by utilizing
1
Cat:Topic ForumsForum:ForumId56
Cat:Topic ForumsForum:ForumId56Discussion:DiscussionId19946
Forums » Topic Forums » Recruiting & Staffing » How to forecast the turnover rate?
|
How to forecast the turnover rate?
posted at 2/1/2001 9:15 AM EST
|
Posts: 3
First: 1/31/2001 Last: 3/13/2001 |
"Costing Human Resources: The Financial Impact of Behavior in Organizations", 3rd Edition, Cascio; PWS-Kent, 1991 has an entire chapter on Turnover beginning with the vary basic formulas and progressing to fairly complex formulas for more sophisticated measurements. |
|
|
How to forecast the turnover rate?
posted at 2/11/2001 8:06 PM EST
|
|
Posts: 11
First: 2/11/2001 Last: 2/11/2001 |
I do not know whether your interest is academic or for practical application.if for academic interest, you can see the books and sites recommended by fellow members. if it is for practical use, i have the following comments to make.
you can calculate past turnover using your data available. remember that past turn over rates need not necessarily help you in projecting future turnover. you need to have detailed understanding of the macro as well as the micro environment details whenever you found irregular patterns in the past turnover figures. in macro environment, consider the impact of growth in economy, slowing down or increase can both affect turnover equally. also employment opportunities outside your country for certain positions have impact on your employee turn over. consider the type of industry and see the industry specific growth rate for certain highly technical jobs. some jobs are more general and not constrained by nature of industry. you have to make appropriate corrections for those macrofactors while projecting turnover for future. when you come to micro environment, the attitude of the top management to the employees, the motivation level of the managers themselves, the nature of the job and the working conditions, hr and compensation and reward policies will have an impact on the turn over rate. what correction factor you would apply for a sadistic boss or a corrupt or nepotist boss while assessing the impact of motivation level on turnover? you have too little control on too many variables affecting the employee turnover. conduct an exit interview and assess the reasons for an employee leaving the company. how far you can rely on the genuineness of the reasons given by the employee? in one of my consultancy assignments for a non-star hotel, i put this question to all the 30 employees and asked them to drop the reasons as they know, in a box meant for it,secretly. the answer was unanimous and shocking. everybody said it was the owner's wife who interferes with the day-to-day management. similarly you could end up with an answer like sexual harassment. in my humble opinion, more than the projection, past figures and their analysis coupled with the present micro and macro scenario shouild help you to strategise your retention policy. |
Forums » Topic Forums » Recruiting & Staffing » How to forecast the turnover rate?
