Turnover Rate is a metric calculating the percentage of employees who leave an organization over a specific period, used to assess retention effectiveness.
- What is turnover rate?
Answer: It is the percentage of employees leaving over a period. - How is it calculated?
Answer: It is (number of departures / average employees) x 100. - What is a healthy rate?
Answer: It varies by industry, typically 10-15% annually. - What are the benefits?
Answer: It helps identify retention issues. - How does HR use it?
Answer: HR tracks and develops improvement plans.
