Hi Amit,
That is a good one for Attrition Rate. But the query was on "Retention Rate". :)
If you can add to what i have posted on "Retention Rate" that would be good.
Regards.
~Raghav V
I came across another formula for turnover rate which goes like this:
Number of leavers/average number employed = turnover rate
For E.g. 12/{(64+56)/2} * 100 = 20%
Where 64= number employed at the beginning of period
56= number employed at end of period
20= Average turnover rate per period
Is it something different than that of attrition rate. Because if we put both the formula with same fugures then we are getting different results.
Please advise.
Guys i wanted to know for my clear knowledge, what is the use of calculating the retnetion rate, what does this help to know and to then required to work on?
Cheers Paru
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