This calculator helps HR professionals and managers determine the employee turnover rate, a crucial metric for assessing the stability and health of an organization.
This tool uses the standard formula for calculating employee turnover rate. All calculations are based on data and guidelines provided by reputable HR sources.
All calculations are strictly based on the formulas and data provided by this source.
\( \text{Turnover Rate} = \left( \frac{\text{Number of Departures}}{\text{Average Number of Employees}} \right) \times 100 \)
For instance, if a company had 10 departures and an average of 100 employees over a year, the turnover rate would be calculated as follows:
\( \text{Turnover Rate} = \left( \frac{10}{100} \right) \times 100 = 10\% \)
Employee turnover rate is the percentage of employees who leave an organization during a certain period.
A high turnover rate can indicate dissatisfaction among employees, whereas a low rate suggests stability and satisfaction.
Turnover rate should be calculated regularly, typically quarterly or annually, to monitor trends and address issues promptly.
Turnover rates vary by industry, but generally, a rate over 20% is considered high.
Tracking turnover rates helps identify potential problems in employee retention strategies.