How To Calculate Voluntary Employee Turnover Rate in Sage CRE | Arithmix

Employee turnover is a common concern for businesses of all sizes. High turnover rates can be costly and disruptive to operations. One way to measure employee turnover is by calculating the voluntary employee turnover rate. This rate is the percentage of employees who voluntarily leave the company within a certain period of time, such as a year.

To calculate the voluntary employee turnover rate, you will need to gather data on the number of employees who left the company voluntarily during the period you are measuring. This can include resignations, retirements, or employees who simply did not return to work. You will also need to know the total number of employees at the beginning and end of the period.

To calculate the voluntary employee turnover rate, divide the number of voluntary departures by the total number of employees at the beginning of the period, and then multiply by 100. For example, if you had 100 employees at the beginning of the year and 10 of them left voluntarily, your voluntary employee turnover rate would be 10%.

What Is Voluntary Employee Turnover Rate?

Voluntary employee turnover rate is a measure of the percentage of employees who choose to leave a company within a certain period of time. This rate is calculated by dividing the number of voluntary departures by the total number of employees at the beginning of the period, and then multiplying by 100. This rate can be a useful tool for businesses to understand their employee retention and identify areas for improvement.

Voluntary employee turnover can be caused by a variety of factors, including job dissatisfaction, lack of career growth opportunities, or poor management. By measuring the voluntary employee turnover rate, businesses can identify patterns and trends in employee departures and take steps to address underlying issues.

When Is It Valuable To Calculate Voluntary Employee Turnover Rate?

Calculating the voluntary employee turnover rate can be valuable for businesses in a variety of situations. For example, if a company is experiencing high turnover rates, calculating the voluntary employee turnover rate can help identify whether the departures are primarily voluntary or involuntary. If the majority of departures are voluntary, this may indicate issues with employee satisfaction or retention.

Calculating the voluntary employee turnover rate can also be useful for benchmarking against industry standards. By comparing their voluntary employee turnover rate to industry averages, businesses can identify areas where they may be falling behind and take steps to improve employee retention.

Finally, calculating the voluntary employee turnover rate can be a useful tool for evaluating the effectiveness of employee retention initiatives. By tracking the voluntary employee turnover rate over time, businesses can determine whether their retention efforts are having a positive impact and adjust their strategies accordingly.

How Do You Calculate Voluntary Employee Turnover Rate in Sage CRE

Sage CRE 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 Sage CRE 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 Sage CRE, 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 Sage CRE 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 Sage CRE 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.