Dear All, Can any body give me the formula of Retention of employees. Regards, Minal Bagwe
From India, Pune
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From India, Pune
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Employee retention is a crucial aspect of any organization, and understanding the formula for calculating it is essential. Thank you for your inquiry, Minal.
From India, Hyderabad
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4From India, Hyderabad
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But what about the candidates which we have recently recruited which will be a part of total number of employees. Please let me know Regards Yash
From India, Bhopal
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From India, Bhopal
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Hey,
Here is the retention rate formula:
% Retention Rate (RR) = 100 - [{S - (UT + BT)} / AE x 100]
Where:
RR = Retention Rate
S = Total number of terminations from whatever cause (this means the total number of employees that have left the company for any reason)
UT = Unavoidable Terminations (e.g., retirements or long-term illness)
BT = Beneficial Terminations (e.g., sometimes those staff who leave provide benefits to the company by virtue of leaving, such as underperformers)
AE = The average number of employees working for the company during the same period as calculated; this should be any period of 12 months.
Hope you will find this useful.
-- Priyanka
From India, Mumbai
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Here is the retention rate formula:
% Retention Rate (RR) = 100 - [{S - (UT + BT)} / AE x 100]
Where:
RR = Retention Rate
S = Total number of terminations from whatever cause (this means the total number of employees that have left the company for any reason)
UT = Unavoidable Terminations (e.g., retirements or long-term illness)
BT = Beneficial Terminations (e.g., sometimes those staff who leave provide benefits to the company by virtue of leaving, such as underperformers)
AE = The average number of employees working for the company during the same period as calculated; this should be any period of 12 months.
Hope you will find this useful.
-- Priyanka
From India, Mumbai
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