Below is a description on what formula we use to calculate employee turnover in our "HR dashboard" overview.
Turnover in <current year>
Shows the figure for the current calendar year from the 1st of January to the 31st of December inclusive.
Calculation:
Number of employees terminated during the year / (Number of active employees at the end of the year + Number of active employees at the start of the year) * 2 * 100
Annual turnover
This looks at the last 365 days.
Calculation:
Number of employees terminated during the last 365 days / (Number of active employees today + Number of active employees 365 days ago) * 2 * 100
Turnover in last 12 months
This looks at the 12 whole calendar months before today's date. If you're looking at the figure on 16 October 2024, it's calculated based on the data from 1 October 2023 to 30 September 2024 inclusive.
Calculation:
Number of employees terminated during the last 12 months / (Number of active employees at the end of the 12 month period + Number of active employees at the start of the 12 month period) * 2 * 100
Monthly turnover
This looks at the last 30 days up to today's date and is similar to the annual turnover calculation.
Calculation:
Similar to the annual formula, but using the last 30 days:
Number of employees terminated during last 30 days / (Number of active employees today + Number of active employees 30 days ago) * 2 * 100
First year turnover
This looks at the last 365 days.
Calculation:
Terminated employees who worked less than 365 days / Employees terminated within last 365 days * 100
Current Retention
Calculation:
This calculates the percentage of employees retained over the last 12 months doing the following:
Take the number of employees from 12 months ago.
Subtract the number of employees who left in the last 12 months.
Divide the result by the number of employees from 12 months ago.
Multiply by 100 to get the retention percentage.
OR
A = the number of employees working for the company 12 months ago, and
B = the number of employees that have left in the last 12 months, then
Current retention = 100 x (A - B) / A.