This PDF report includes benchmarking data (in a visual, chart-based format), an comprehensive KPI definition, characteristics of high performers and technical details on measuring Turnover Rate. Purchase and download this easy-to-understand, presentation-ready report immediately to compare performance levels, set attainable performance targets, and push towards best-in-class performance for this KPI.
What is Turnover Rate?
The number of employees who left the company (voluntarily or involuntarily) divided by the average number of employees working for the company over the same period of time, as a percentage.
Why should Turnover Rate be measured?
Turnover Rate, a common and critical HR KPI, measures the organization's ability to attract, develop and retain high quality employees on an ongoing basis. A high rate of turnover can be related to poor employee screening processes (e.g., lack of appropriate integrity tests, technical assessments, etc.), certain missteps during the hiring process (e.g., applicant was not properly briefed on job duties, unqualified applicant was hired, etc.), improper management practices, poor training programs, and/or simple employee underperformance (e.g., low productivity, work quality, poor attitude, etc.). While a certain amount of turnover is unavoidable, exit interviews and other similar methods should be employed to determine what, if anything, could have been done differently by both parties to avoid the separation. The business impact of high turnover can be twofold: recruiting and hiring costs are increased, while departmental productivity, morale and work quality may also be negatively impacted. Specific areas of the business (e.g., teams, departments, etc.) with higher than average turnover should be further investigated to determine root causes and mitigate further losses, where possible.
Download a Sample Turnover Rate
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