Loss of employees potentially costs your business money through hiring and retraining new recruits. Turnover employee turnover rate indicates the rate at which your business hires and fires employees.
How to calculate employee turnover rate
A low employee turnover rate suggests that you have a good work environment that allows you to retain your employees. A high employee turnover rate not only signifies possible problems in analysis office, but may also cost your employee financially.
This is because you have to spend more on advertising job vacancies, interviewing candidates and training new employees.
Check your company's human analteenspositions records to find the number of employees your business has at the end of a period of time. Also determine the number of employees the company lets go over the same period of time.
Employee Turnover: An Evidence-Based Approach to a Thorny Issue • ScienceForWork
Divide the number of employees terminated by the number of employees at the end of the period to obtain the employee turnover rate. Multiply this figure by to express it as a percentage. For example, assume your company has fired 50 employees over the year and employs staff members at the end of the year.