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

Calculating voluntary employee turnover rate is an important metric for any organization. It helps you understand how many employees are leaving your company voluntarily and why. This information can be used to identify areas for improvement in your organization and to develop strategies for retaining your top talent.

To calculate voluntary employee turnover rate in Sage People, you will need to gather some data. First, you will need to determine the number of employees who have left your organization voluntarily during a specific period of time. This could be a month, a quarter, or a year, depending on your needs.

Next, you will need to determine the average number of employees you had during that same period of time. This will give you the denominator for your turnover rate calculation.

Once you have these two pieces of information, you can calculate your voluntary employee turnover rate by dividing the number of employees who left voluntarily by the average number of employees during the same period of time. Multiply the result by 100 to get a percentage.

For example, if you had 100 employees during the first quarter of the year and 5 of them left voluntarily, your turnover rate would be 5/100 x 100 = 5%.

What Is Voluntary Employee Turnover Rate?

Voluntary employee turnover rate is the percentage of employees who leave an organization voluntarily during a specific period of time. This includes employees who resign, retire, or choose not to renew their contracts. It does not include employees who are terminated or laid off.

Voluntary turnover can be a sign of a healthy organization, as employees may leave to pursue new opportunities or to retire. However, high levels of voluntary turnover can be a cause for concern, as it may indicate that employees are not satisfied with their jobs or the organization as a whole.

By calculating voluntary employee turnover rate, organizations can identify trends and patterns in employee departures. This information can be used to develop strategies for retaining top talent and improving employee satisfaction.

When Is It Valuable To Calculate Voluntary Employee Turnover Rate?

Calculating voluntary employee turnover rate is valuable for any organization that wants to understand why employees are leaving and how to retain top talent. It can be particularly valuable in the following situations:

• When an organization is experiencing high levels of voluntary turnover
• When an organization is implementing new retention strategies
• When an organization is undergoing significant changes, such as a merger or acquisition
• When an organization wants to benchmark its turnover rate against industry standards

By regularly calculating voluntary employee turnover rate, organizations can stay informed about trends and patterns in employee departures. This information can be used to develop targeted retention strategies and to create a more positive and productive work environment for all employees.

How Do You Calculate Voluntary Employee Turnover Rate in Sage People

Sage People 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 People 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 People, 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 People 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 People 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.