I am new to this forum. I am looking for a formula to forecast staffing attrition. I'd like to come up with a projection so that we can overhire appropriate staffing allowing for sufficient recruiting and training time.
Can anyone help me with such a formula, please?
Thank you and I will use last year's data. Can you tell me how to forecast an overhire number so that we can maintain full staffing? I have the attrition rate and possible retirement dates for the next five years.
Look at last year's attrition rate by month and assume it is the same for this year. Hire in anticipation of the next month's expected turnover. I'm sure that you'll be wrong each month but you'll be closer to what you need than if you don't anticipate turnover.
Attrition rates can be calculated using a simple formula. Attrition = (No. of employees who left in the year/average employees in the year) x 100. Regards Jatin Narula
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