In this case, you'll want to make sure you're tracking turnover and retention separately and not simply assuming these numbers are inversely related to each other. Or you might have a situation where you've listed two openings, filled them both, and then had to fill them again.
This shouldn't only include positions lost and positions filled – you also want to collect data around specific kinds of turnover.įor example, in the the 2021 Bureau of Labor Statistics report, the overall turnover rate is 57.3%, but that number drops to 25% when considering only voluntary turnover, 29% when considering involuntary turnover and just 3% when looking at only high-performers.įurthermore, you'll also want to account for turnover related to employees who left a position but did not leave the company, such as in the case of a promotion or inter-departmental transfer. Start tracking the data you need to measure turnover and retention year over year. Here are three things to consider as you establish turnover and retention rate guidelines for your organization: 1. If you don't take the time to consider each of these factors, you might end up with an inaccurate view of how your company is handling employee turnover and retention. The ideal turnover rate (the number of employees who have left your company during a certain time period) and retention rate (the number of employees who have stayed at your company during a certain time period) for your organization aren't necessarily the average rates listed on national surveys – they're going to depend on factors such as your industry, your historical turnover rate, and internal promotion rate. Unfortunately, calculating employee turnover and retention isn't that simple. If you're an HR manager, you might look at that number and compare it to your company's rate and make a simple calculation: if your number is lower, you're doing great, but if it's higher, you need to do some work. According to the 2021 Bureau of Labor Statics report, the annual total separations rate or turnover rate in 2020 was 57.3%.
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