How To Calculate Voluntary Employee Turnover Rate in Kinetic | Arithmix
Learn how to calculate the voluntary employee turnover rate in Kinetic with our comprehensive guide. Discover the key metrics and factors that affect turnover, and gain insights into how to improve retention and boost employee satisfaction.
Employee turnover is a common concern for businesses of all sizes. High employee turnover rates can be costly for businesses, leading to decreased productivity, increased recruitment and training costs, and a negative impact on company culture. One way to measure employee turnover is by calculating the voluntary employee turnover rate. In this article, we will discuss what voluntary employee turnover rate is and how to calculate it in Kinetic.
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 instead chose to leave the company for various reasons such as finding a better job opportunity or relocating to a different city. Calculating the voluntary employee turnover rate is important for businesses to understand how many employees are leaving and why.
Voluntary employee turnover rate can be calculated for a specific period of time, such as a quarter or a year. This rate can be calculated for the entire company or for specific departments or teams within the company. By calculating the voluntary employee turnover rate, businesses can identify trends and patterns in employee turnover and take steps to address any 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 businesses in several situations. For example, if a company is experiencing high turnover rates, it may be helpful to calculate the voluntary employee turnover rate to determine how many employees are leaving on their own accord. This can help the company identify any issues that may be causing employees to leave and take steps to address those issues.
Calculating voluntary employee turnover rate can also be valuable for businesses that are looking to improve employee retention. By understanding why employees are leaving, businesses can take steps to improve employee satisfaction and engagement, which can lead to lower turnover rates.
Finally, calculating voluntary employee turnover rate can be valuable for businesses that are looking to benchmark their turnover rates against industry averages. This can help businesses understand how they compare to their competitors and identify areas where they may need to improve.
In conclusion, calculating voluntary employee turnover rate is an important step for businesses to take in order to understand how many employees are leaving and why. By understanding this information, businesses can take steps to improve employee retention and address any issues that may be causing employees to leave. If you are a Kinetic user, you can easily calculate voluntary employee turnover rate using the platform's reporting features.
How Do You Calculate Voluntary Employee Turnover Rate in Kinetic
Kinetic 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 Kinetic 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 Kinetic, 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 Kinetic 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 Kinetic 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