{"id":15587,"date":"2023-08-22T14:53:54","date_gmt":"2023-08-22T07:53:54","guid":{"rendered":"https:\/\/phanmemnhansu.com\/?p=15587"},"modified":"2023-08-22T15:00:18","modified_gmt":"2023-08-22T08:00:18","slug":"turnover-rate-5-cach-cai-thien-ti-le-nghi-viec","status":"publish","type":"post","link":"https:\/\/phanmemnhansu.com\/en\/turnover-rate-5-cach-cai-thien-ti-le-nghi-viec\/","title":{"rendered":"What is Turnover Rate? 5 ways to improve the turnover rate in your business"},"content":{"rendered":"

What is Turnover Rate?<\/i><\/b><\/a>? Why is this index necessary in quarterly and annual human resources reports? How much should the Turnover Rate be limited to and what are the ways to improve it?<\/span><\/i><\/span><\/p>\n

What is Turnover Rate?<\/b><\/span><\/h2>\n

Turnover Rate<\/i><\/b><\/a> is a term that refers to the rate of personnel turnover of a business during a measurement period. Turnover Rate is the ratio of the number of employees quitting their jobs calculated on the average number of employees in a month, quarter or many years. This concept can be understood as the turnover rate or the turnover rate of a business's personnel.<\/span><\/i><\/span><\/p>\n

This is an important indicator in businesses' human resource reports. It shows the ability of a business to retain talent and satisfy employee requirements. Some businesses divide <\/span>turnover rate<\/b> according to two criteria. One is the voluntary job turnover rate, which originates from the personal and psychological desires of employees. Second is the involuntary turnover rate, for example due to moving house, retirement, illness, etc.<\/span><\/span><\/p>\n

Instructions on how to calculate job turnover rate<\/b><\/span><\/h2>\n

First of all, collect input data such as: number of employees working at the beginning (B) and end of the period (E) you want to calculate; Number of employees quitting (L) during that period.<\/span><\/p>\n

Next, calculate the average (Avg) number of employees in the above time period: Avg = [E+B]\/2<\/span><\/p>\n

Calculation formula\u00a0job hopping rate<\/strong>\u00a0as follows:<\/span><\/p>\n

Turnover Rate = (L\/Avg) x 100<\/strong><\/span><\/p>\n

\"turnover<\/span>
Calculate monthly rate<\/em><\/span><\/figcaption><\/figure>\n

Example of how to calculate Turnover Rate<\/strong><\/span><\/h3>\n

At the beginning of the first quarter, the business had 100 employees. At the end of the first quarter, the business had 105 employees. But during the quarter, 4 employees quit.\u00a0Turnover rate<\/strong>\u00a0Yours will be: 5\/ [(100 + 105)\/2] x 100 = 4.9%<\/span><\/p>\n

Normally businesses will calculate the ratio\u00a0turnover rate<\/strong>\u00a0by quarter and year. Because the longer the time period, the more data there will be to measure. And the easier it is for you to compare between times.<\/span><\/p>\n

Here is the recipe for\u00a0Turnover rate<\/strong>\u00a0annual:<\/span><\/p>\n

\"T\u00ednh<\/span>
Calculate annual Turnover rate<\/em><\/span><\/figcaption><\/figure>\n

So, if you had 45 employees at the beginning of the year and 55 employees at the end of the year and 5 employees left for the year, your annual turnover rate would be:<\/span><\/p>\n

\"t\u1ec9<\/span>
Calculate the annual turnover rate<\/span><\/figcaption><\/figure>\n

You can also calculate your employee retention rate by taking your turnover rate and subtracting it from 100 to get the result.<\/span><\/p>\n

What should the conversion rate be?<\/strong><\/span><\/h3>\n

Not simply an index for comparison.\u00a0Employee leave rate<\/strong>High or low c will reflect the human resources situation at the enterprise. Dr. John Sullivan - a consultant specializing in Talent Management believes that if\u00a0Turnover Rate<\/strong>:<\/span><\/p>\n\n\n\n\n\n\n\n
Below 3%<\/strong><\/em><\/span><\/td>\nYour business seems fine. Maybe it's the boss's fault. Reconsider your manager's behavior, communication or leadership style.<\/span><\/td>\n<\/tr>\n
3 \u2013 5%<\/strong><\/em><\/span><\/td>\nThere are not many concerns yet. However, businesses should consider their salary system and remuneration policies. Perhaps it is not enough to satisfy employees' aspirations. In addition, the boss's problem is still worth considering.<\/span><\/td>\n<\/tr>\n
5 \u2013 8%<\/strong><\/em><\/span><\/td>\nThere's a bit of a problem here. Besides your boss and salary, your company probably doesn't have many development opportunities. This makes it difficult for personnel to determine their working goals at the enterprise. Investing in promotion and training paths, giving them challenging jobs is a good way to improve this<\/span><\/td>\n<\/tr>\n
8 \u2013 10%<\/strong><\/em><\/span><\/td>\nBusinesses are at a warning level. Dr John Sullivan believes that in addition to the above problems, if you are at this level, there may be a gap in corporate culture. Consider implementing internal activities to increase engagement<\/span><\/td>\n<\/tr>\n
On 10%<\/strong><\/em><\/span><\/td>\nIn addition to the above factors, consider external influences such as industry environment, competitors, etc.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

In fact, the above statements are for reference only and are not true for everyone. Therefore, administrators still need to consider all aspects. To ensure you find the right problem and don't miss any weak links.<\/span><\/p>\n

What is the reason for increasing Turnover Rate?<\/strong><\/span><\/h2>\n

There are many reasons that influence an employee's job-hopping psychology. Sometimes there are 2 to 3 reasons at the same time. Most of them are due to:<\/span><\/p>\n