Calculating Absenteeism Rate:
To calculate the Absenteeism Rate, use the formula: (Total number of days employees were absent / Total number of available workdays) x 100. Calculate this rate month-wise and department-wise by collecting relevant data on absences.
Calculating Attrition Rate:
The Attrition Rate formula is: (Number of employees who left during the month / Average number of employees during the month) x 100. Calculate this rate month-wise and department-wise to identify trends and patterns.
Calculating Turnover Ratio:
The Turnover Ratio formula is: (Number of separations during the month / Average number of employees during the month) x 100. Compute this ratio month-wise and department-wise to measure workforce stability.
Summary:
Summarize the findings for each calculation. Highlight any significant trends, patterns, or issues observed. Provide actionable insights based on the data analyzed.
Ensure accuracy in data collection and calculations to derive meaningful insights for effective decision-making. Remember to maintain confidentiality and comply with relevant labor laws and company policies during data analysis and reporting. This structured approach will help you efficiently close the report and present valuable information to stakeholders for informed decision-making.
Good luck with completing your report this week! 📊📉