Turnover Rate: First Year of Employment
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: First Year of Employment. 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: First Year of Employment?
The number of employees who leave the company during their first year of employment with the organization divided by the total number of employees hired within the same calendar year, as a percentage.
Why should Turnover Rate: First Year of Employment be measured?
This metric measures the organization's ability to retain employees, especially during their first year of employment with the company. Monitoring the movement of first-year employees out of the organization allows management to determine the root cause(s) of turnover for new employees, which may be related to poor management practices, ineffective training programs, and/or poor employee screening processes (recruiting and hiring). High first year turnover may impact overall employee satisfaction rates, can lead to increased recruiting and hiring costs, and typically impacts productivity and work quality in high turnover organizational areas.
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