How To Calculate Voluntary Employee Turnover Rate in Deltek | Arithmix

Calculating the voluntary employee turnover rate is an important metric for any organization. It helps to understand how many employees are leaving the company on their own accord and why. In this article, we will discuss what voluntary employee turnover rate is, when it is valuable to calculate it, and how to calculate it in Deltek.

What Is Voluntary Employee Turnover Rate?

Voluntary employee turnover rate is the percentage of employees who leave a company on their own accord. This means that they were not terminated or laid off, but rather chose to leave the company. It is an important metric to track because it can provide insight into the company's culture, employee satisfaction, and overall retention efforts.

When employees leave voluntarily, it can be a sign that they are not happy with their job, the company culture, or their work environment. By tracking this metric, companies can identify patterns and take action to improve retention efforts and address any underlying issues that may be causing employees to leave.

When Is It Valuable To Calculate Voluntary Employee Turnover Rate?

Calculating voluntary employee turnover rate is valuable for any organization, but it is especially important for those that are experiencing high turnover rates. High turnover rates can be costly for companies, both in terms of time and money. By calculating the voluntary employee turnover rate, companies can identify areas for improvement and take action to reduce turnover and retain top talent.

It is also valuable to calculate voluntary employee turnover rate when companies are looking to improve their overall retention efforts. By tracking this metric over time, companies can see if their retention efforts are having an impact and make adjustments as needed.

How to Calculate Voluntary Employee Turnover Rate in Deltek

To calculate voluntary employee turnover rate in Deltek, you will need to gather data on the number of employees who left the company voluntarily during a specific time period. This can be done by reviewing employee records or conducting exit interviews.

Once you have this data, you can use the following formula to calculate the voluntary employee turnover rate:

Voluntary Employee Turnover Rate = (Number of Employees Who Left Voluntarily / Average Number of Employees) x 100

For example, if your company had 10 employees leave voluntarily during the year and the average number of employees during that time period was 100, the voluntary employee turnover rate would be:

(10 / 100) x 100 = 10%

By tracking this metric over time, you can identify trends and take action to improve retention efforts and reduce turnover.

Conclusion

Calculating voluntary employee turnover rate is an important metric for any organization. It provides insight into the company's culture, employee satisfaction, and overall retention efforts. By tracking this metric over time, companies can identify areas for improvement and take action to reduce turnover and retain top talent.

How Do You Calculate Voluntary Employee Turnover Rate in Deltek

Deltek itself isn’t naturally geared towards letting you calculate complex metrics like Voluntary Employee Turnover Rate. As an alternative, teams typically use products like Arithmix to import data from Deltek and build out dashboards.

What is Arithmix?

Arithmix is the next generation spreadsheet - a collaborative, web-based platform for working with numbers that’s powerful yet easy to use. With Arithmix you can import data from systems like Deltek, combine it with data from other systems, and create calculations like Voluntary Employee Turnover 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 Voluntary Employee Turnover Rate in Arithmix

Calculating metrics like Voluntary Employee Turnover Rate is simple in Arithmix. Once you've created your free account, you’ll be able to import your Deltek data, and use it to create natural language formulas for metrics like Voluntary Employee Turnover Rate.

Arithmix is designed to give you the power to build any calculations you want on top of your Deltek 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.