Pls can anybody tell me the formula for retention rate
From India, Coimbatore
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From India, Coimbatore
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What retention rate are you looking for? Employee retention? Customer retention? Autumn Jane
From Singapore, Singapore
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140From Singapore, Singapore
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Employee Retention Rate can also be known as Employee Turnover Rate. When Employee Turnover Rate is used as a KPI, basically, you WANT some turnover, and whilst you don't want to REWARD a manager for firing people, you don't want to penalize them for the poor performers leaving. The formula to calculate annual retention rate or employee turnover rate is: Sum of staff departures over the year divided by Sum of Monthly Staff Headcount.
Regards, Autumn Jane
From Singapore, Singapore
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Regards, Autumn Jane
From Singapore, Singapore
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Please correct me if I am wrong here:
Retention Rate Calculation
- Total number of employees = x
- Number of employees quit/fired = y
- Total number - number quit/fired = z
The formula is: (x - y) = z
To find the retention percentage: (z / x) * 100 = retention %
For example:
- 100 employees total
- 25 quit/fired
- (100 - 25) = 75
- (75 / 100) * 100 = 75%
This results in a 75% retention rate.
Thank you,
Regards,
Thanooj
From Bahrain, Manama
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Retention Rate Calculation
- Total number of employees = x
- Number of employees quit/fired = y
- Total number - number quit/fired = z
The formula is: (x - y) = z
To find the retention percentage: (z / x) * 100 = retention %
For example:
- 100 employees total
- 25 quit/fired
- (100 - 25) = 75
- (75 / 100) * 100 = 75%
This results in a 75% retention rate.
Thank you,
Regards,
Thanooj
From Bahrain, Manama
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Effective employee retention strategies-BPO. doc
Employee Retention Tools.pdf