Looking to calculate your organization’s employee turnover rate? Make it easy on yourself by utilizing this premade template that comes with the turnover formulas already included. Simply add your employee information into the specified pages and you will see the turnover rates for the areas you need, as well as some charts that are ready to print and present.
See an example of how it works here:
This template will make things super easy, but you will need to have access to several reports from your HRIS system. This includes 4 reports:
• Previous Employee List – For an annual turnover, you would paste the employee’s information as of 1/1. For monthly turnover, paste the employee’s information as of the 1st of the month
• Current Employee List – For annual turnover, paste the employee information as of 12/31. For monthly turnover, paste the information as of the last day of the month.
• Transfer report
• New Hires report
• Terminations report – Ideally if you can separate the terminations into 2 files – one for voluntary and another for involuntary, that way the different turnover rates can be considered.
Simply copy and paste your reports into the specified pages, add the regions/functional areas and/or cost centers/department numbers (what ever is important for your organization to track) – into the summary page, and the total headcounts will automatically link and calculate your involuntary, voluntary and total turnover rates per area that you choose.
In the detailed summary, you can list out 20 more detailed departments or cost centers, for each of the 20 overall departments listed in the first summary page:
With the upgraded version, you’ll be able to review your turnover and headcounts, based on their length of service or tenure with the company. This can provide great insight as to the timing when most turnover is occurring. There are no extra reports to paste in, just include the date of hire as a column when pasting in your termination and new hire reports.
You will be able to customize the tenure ranges you’d like to see – all you’ll need to do is specify the ranges, and include employee date of hire, and termination date in the data you paste into the template. The rest of the summaries and charts will update, adding the headcounts into the appropriate tenure ranges. For example, you can group the counts into ranges such as 0- 6 months, 6 months – 1 year, 3 – 5 years, etc.
Also included in the upgrade is an extra chart showing total terms by term reason. All the summaries will populate automatically after you paste your data in the specified pages, and directions are included.
This template will work for up to 18,000 employees, but the summary pages are set up to work for 20 regions and/or larger departments, while the detailed summary page can be used for each region to list out more detailed turnover rates per cost center or specific department numbers (up to 20 within the general 20 regions/departments).
