Employee Turnover in Service Industry: How Do You Calculate It Accurately?

Dear all,

Hi, I am new to this community and seeking help from you. Can you please guide me on how to calculate employee turnover in the service providing industry?

Employee turnover can be calculated using the formula:

[ text{Employee Turnover} = left( frac{text{Total Left in year}}{text{Total On 01st Jan + Joined in Calendar Year}} right) times 100 ]

Dear Prashant,

Your quick response is laudable. However, my humble request to you and others is not to respond with an answer but guide people to search CiteHr to find answers that are already there. For example, this question arises repeatedly and has been covered adequately. Also, Paridutt has not specified what is required: annual turnover, monthly turnover, etc. Kindly refer to https://www.citehr.com/search.php?searchid=3340767 to appreciate my view.

Have a lovely day.

Simhan

Dear Mr. Simhan,

When I joined the community (2 years back), I was not aware of the search function, so taking myself as a reference, I am replying to the post.

But thanks for the suggestion; I will take care.

Hi Simhan,

Thank you for your reply. Basically, we are a consulting firm with a staff of 37 people, including 5 senior members. Each of the five seniors leads their own team. However, despite the firm's substantial revenue, it is not generating profits. The seniors are each earning more than 80k per month but are struggling to generate revenue.

In this case, we need to explore strategies to improve the firm's profitability. This could involve analyzing the current business model, exploring new revenue streams, optimizing operations for efficiency, or reevaluating the roles and responsibilities of the senior staff to align with revenue generation goals.

Thank you for bringing this issue to my attention. Let's discuss further to develop a plan to address this challenge effectively.

I regret to mention here that you are repeating the same mistake again of not coming out with your problem clearly.

What do you mean by CS Firm? Is it Company Secretary (my guess) Firm? What is your business? What services are you offering?

Based on the very limited information provided, general advice can be given, such as increasing your revenue, reducing your costs, making a budget, deciding revenue targets, and complying strictly with the budget.