HR Excel Dashboard with Employee Turnover Rate Metrics

Most HR Excel Dashboard Reports Templates include employee turnover rate metrics to monitor human resources performance
How to calculate employee turnover for your excel human resources dashboard reports:
Employee turnover rate shows how many employees on average will leave your organization in a given time period and this number is divided by the total overall number of employees.


The formula to calculate your employee turnover metric is very simple. Here it is:
Employee Turnover = Number of employees leaving the organization / Overall number of employees
This metric is a fraction and after multiplying it with 100 you will get a percent. For example, let’s say your company has 100 employees and on average 5 employees will leave the company within a specific time period. In this case the formula will be:
Employee Turnover Rate = 5/100 x 100 = 5%
Is 5% high or low turnover for your employees? The answer is: it “depends”. It is very important to use industry benchmarking in HR dashboard reporting. The numbers will vary from industry to industry and from location to location. Retail businesses for example typically have very high turnover ratio. As a rule of thumb, companies with many unskilled workers will have very short employment time horizon and consequently this metric will be very high. On the other hand high-expertise jobs and roles that require specialized know-how, experience or education will have a long-term orientation and hence very low employee turnover rate.

The impact of this very important HR KPI is directly related to the company’s financial results. High turnover is very costly and difficult to manage for the organization. When you are not able to retain experience, talent, expertise and skills within your company you will have to invest big money in hiring and training new employees on a continuous basis. You should always be able to understand the financial impact and the very specific numbers behind how much does it cost to hire a new employee, train the new employee and lose the average employee. These numbers should drive your HR strategies in terms of how much should you invest in training and retaining your workforce.
 
HR Dashboards Excel


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