Month: September 2024

Retention rate in HR measures the percentage of employees who remain with a company over a specified period.

A good turnover rate varies by industry, but typically ranges from 10-15%, depending on the business and workforce needs.

Turnover rate is calculated by dividing the number of employees who leave by the average number of employees during a period.

To check turnover, HR departments track employee exits and calculate turnover rates using available data.

Turnover profit refers to the financial benefit a company gains from efficient staff management and cost savings.

Turnover in HR refers to the rate at which employees leave a company and are replaced by new hires.

Attrition strategy refers to the plans and actions a business takes to reduce employee exits and improve retention.

KPI stands for Key Performance Indicator, used by businesses to track progress toward specific goals and objectives.

Tracking turnover involves using HR software and metrics to monitor employee exits and assess workforce stability.

Controlling attrition involves improving employee satisfaction, offering competitive benefits, and providing career growth.