employee turnover
Employee turnover is usually reported as one number for the organisation, and one number is close to useless.
Two organisations reporting the same rate look identical. In the first, departures are spread evenly and mostly from roles that are easy to fill. In the second, they cluster in one team, in the first year of employment, and among the people the organisation can least afford to lose.
Cut the figure at least three ways before drawing any conclusion. By team or manager, since that is where the cause usually sits. By tenure, because leaving in year one is a hiring or onboarding problem and leaving in year five is not. And by whether you wanted the person to stay.
An unchanged headline rate can hide all three of those moving.
The Fair Work Ombudsman covers record-keeping obligations. This is general information rather than legal advice, and obligations vary by state and territory.
See Sentrient’s HR management system and employee management system.
Attrition Rate: How to Calculate It and Improve Employee Retention
The true cost of losing a valued employee extends far beyond their final paycheque. In today’s fiercely competitive talent market, Australian businesses are facing unprecedented challenges in retaining their best people. With talent shortages reaching critical levels across industries, understanding and managing your attrition rate has become more crucial than ever. Every employee departure represents […]
