How To Calculate Employee Retention Rate in HubSpot CRM | Arithmix
Learn how to calculate employee retention rate in HubSpot CRM with this comprehensive guide. Discover the key metrics and formulas to track your team's retention and improve your HR strategy. Start optimizing your workforce today!
Employee retention rate is an important metric that measures the percentage of employees who remain with a company over a certain period of time. It is a crucial metric for any organization as it helps to determine the effectiveness of the company's employee retention strategies. In this article, we will discuss what employee retention rate is, when it is valuable to calculate it, and how to calculate it in HubSpot CRM.
What Is Employee Retention Rate?
Employee retention rate is the percentage of employees who remain with a company over a certain period of time. It is calculated by dividing the number of employees who remain with the company by the total number of employees in the company. For example, if a company has 100 employees at the beginning of the year and 90 employees at the end of the year, the employee retention rate for that year would be 90%.
Employee retention rate is an important metric for any organization as it helps to determine the effectiveness of the company's employee retention strategies. A high employee retention rate indicates that the company is successful in retaining its employees, which can lead to increased productivity, improved morale, and reduced costs associated with turnover.
When Is It Valuable To Calculate Employee Retention Rate?
Employee retention rate is valuable to calculate at any time, but it is particularly valuable when a company is experiencing high turnover rates. High turnover rates can be costly for a company, both in terms of time and money. Calculating employee retention rate can help a company identify the reasons for high turnover rates and implement strategies to reduce turnover.
Employee retention rate is also valuable to calculate when a company is implementing new employee retention strategies. By tracking employee retention rate over time, a company can determine whether its new strategies are effective in retaining employees.
How to Calculate Employee Retention Rate in HubSpot CRM
HubSpot CRM provides a simple and easy way to calculate employee retention rate. To calculate employee retention rate in HubSpot CRM, follow these steps:
- Log in to your HubSpot CRM account and navigate to the HR module.
- Select the "Reports" tab and then select "Employee Retention Rate" from the list of available reports.
- Select the time period for which you want to calculate employee retention rate.
- HubSpot CRM will automatically calculate employee retention rate for the selected time period and display the results in a chart or table format.
It is important to note that HubSpot CRM calculates employee retention rate based on the number of employees who have left the company voluntarily or involuntarily. HubSpot CRM does not include employees who are still employed by the company at the end of the selected time period.
In conclusion, employee retention rate is an important metric for any organization as it helps to determine the effectiveness of the company's employee retention strategies. HubSpot CRM provides a simple and easy way to calculate employee retention rate, which can help companies identify the reasons for high turnover rates and implement strategies to reduce turnover.
How Do You Calculate Employee Retention Rate in HubSpot CRM
HubSpot CRM itself isn't naturally geared towards letting you calculate complex metrics like Employee Retention Rate. As an alternative, teams typically use products like Arithmix to import data from HubSpot CRM and build out dashboards.
What is Arithmix?
Arithmix is the next generation spreadsheet - a collaborative, web-based platform for working with numbers you'll powerful yet easy to use. With Arithmix you can import data from systems like HubSpot CRM, combine it with data from other systems, and create calculations like Employee Retention Rate.
In Arithmix, data is organized into Tables and referenced by name, not by cell location like a spreadsheet, simplifying calculation creation. Data and calculations can be shared with others and re-used like building blocks, vastly streamlining analysis, model building, and reporting in a highly scalable and easy to maintain platform. Data can be edited, categorized (by dimensions) and freely pivoted. Calculations are automatically copied across a dimension - eliminating copy and paste of formulas.
Arithmix is fully collaborative, giving your entire team access to your numbers and the ability to work together seamlessly.
Calculating Employee Retention Rate in Arithmix
Calculating metrics like Employee Retention Rate is simple in Arithmix. Once you've created your free account, you'll be able to import your HubSpot CRM data, and use it to create natural language formulas for metrics like Employee Retention Rate.
Arithmix is designed to give you the power to build any calculations you want on top of your HubSpot CRM data, while also being easy to use and collaborate on. You can share your dashboards with users inside and outside of your organisation, making it easy to empower your whole team.Use Arithmix free