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Monthly and Annual Employee Turnover Percentage

Monthly and Annual Employee Turnover Percentage
   
Home  » Products  » VIP Task Manager Pro  » Tutorials  » Customization Guide  » Monthly and Annual Employee Turnover Percentage

Monthly and Annual Employee Turnover Percentage

    Monthly and Annual Employee Turnover Percentage is employee key performance indicator that shows the rate of the average number of employees to the number of employees who left the company on monthly or yearly basis.

    The formula for calculating Monthly Employee Turnover Percentage is as follows:

    Monthly Employee Turnover Percentage = Number of employees who left the company within a month (or Number of Separations) / Average number of employees per the same month

    Annual Employee Turnover Percentage = Number of employees who left the company within a year / Average number of employees per the same year

    You can compute employee turnover to compare it with the average figure in your business area. Defining Employee Turnover Percentage may let you calculate how much it costs to hire an employee (Employee Turnover Costs).

    To calculate Monthly or Annual Employee Turnover Percentage please follow the steps below:

  • Create the custom field “Average Number of Employees” with code “cf_average_number_of_employees”
  • Add the average number of employees per month or per year to calculate employee turnover. To define this figure you can check out your payroll. For example, weekly payroll states the following number of employees:

    1st week: 43

    2nd week: 41

    3d week: 34

    4th week: 42

    The average number of employees per month would be calculated as follows: total number of employees per 4 weeks / 4 (number of weeks in a week) = (43+ 41+ 34+ 42) / 4 = 40

  • Create the custom field “Number of  Separations” with code “cf_number_of_separations”
  • Add number of employees leaving the company (or separations) per month or per year

    Note: if you would like to enter the value of the custom field “Average Number of Employees” and “Number of Separations” per task group manually you need to right click on task group, select “Custom fields options” and select “Edit”

    To enter the value for these custom field right click on task group and select “Edit”

  • Create the custom field “Monthly Employee Turnover %” or  “Annual  Employee Turnover %” with the formula:
  •  ToFloat($cf_number_of_separations) / ToFloat($cf_average_number_of_employees) * 100

  • On Task Tree select the task group for which you need to display Monthly or Annual Employee Percentage and select “Custom fields options”
  • Set the following custom fields settings for the custom field: “Monthly Employee Turnover %” or “Annual  Employee Turnover %”
  • In “Settings for” select “This task group”

    select “Calculated by custom field formula (for task group)”

    Monthly Employee Turnover Percentage on Task Tree

    Annual Employee Turnover Percentage on Task Tree


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