![]() The formula to calculate your unique retention rates is simple and straightforward. Leaders should strive for a high retention rate and a low turnover rate to drive optimal results. Employee turnover rate is the percentage of employees that leave your organization. Employee retention rate vs employee turnover rateĮmployee retention rate is defined as the percentage of your workforce that stays at your organization. By comparing retention rates over a given time period, you can understand what’s lacking or improving in the employee experience to make adjustments. It helps you understand whether you are succeeding-or not-in creating a positive employee experience that engages and motivates your talent. ![]() In short, it’s the percentage of employees that stay at your organization during a given time period.īut your employee retention rate is so much more than a simple calculation. Your employee retention rate is a telling metric, giving insight into the employee experience. This article will help you calculate your employee retention rate to uncover the significance of your turnover problems and drive company growth. And when these employees leave, you can experience low productivity levels, reduced company expertise, poor employee morale, and high recruitment and onboarding costs. If you don’t have a pulse on employee retention, you risk losing your top performers. It also gives valuable insight into whether your engagement and retention initiatives are working or not. It highlights how many employees choose to stay at your organization. Your employee retention rate is a critical business metric. ![]()
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