Finding the right Employee Retention metrics can be daunting, especially when you're busy working on your day-to-day tasks. This is why we've curated a list of examples for your inspiration.
Copy these examples into your preferred tool, or adopt Tability to ensure you remain accountable.
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While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI metrics generator below to generate your own strategies.
This is calculated by dividing the number of employees who left during a period by the average number of employees during that period, then multiplying by 100
What good looks like for this metric: 10-15%
Ideas to improve this metric
Enhance employee engagement programmes
Improve career development opportunities
Conduct regular employee feedback sessions
Competitive salary and benefits packages
Strengthen company culture and values
2. Voluntary vs Involuntary Turnover
Compares employees who voluntarily resigned versus those who were terminated
What good looks like for this metric: Higher voluntary turnover indicates employee dissatisfaction
Ideas to improve this metric
Analyse exit interviews for patterns
Identify root causes for turnover
Address workplace grievances promptly
Implement employee retention strategies
Regularly assess job satisfaction levels
3. Average Employee Tenure
Measures the average length of time employees stay with the company
What good looks like for this metric: 3-5 years
Ideas to improve this metric
Provide ongoing training and development
Offer clear career progression paths
Recognize and reward long-term employees
Encourage internal mobility
Build strong leadership and management
4. Cost of Employee Turnover
Calculates the cost associated with losing and replacing employees, including recruiting, training, and loss of productivity
What good looks like for this metric: Typically 33% of an employee's annual salary
Ideas to improve this metric
Invest in effective hiring processes
Use retention strategies to reduce turnover
Improve onboarding processes
Foster a positive work environment
Regularly review compensation strategies
5. New Hire Turnover Rate
Monitors the percentage of new employees who leave within a specific period, usually within the first year
The percentage of employees who leave the company within a certain period. It's calculated by dividing the number of employees who left by the average number of employees, multiplied by 100.
What good looks like for this metric: 10-15% annually
Ideas to improve this metric
Improve onboarding processes
Foster a positive company culture
Offer competitive salaries and benefits
Provide career development opportunities
Conduct exit interviews to understand reasons for leaving
2. Employee net promoter score (eNPS)
Measures the likelihood of employees to recommend the company as a good place to work. It's calculated by asking employees to rate their likelihood on a scale from 0-10 and categorizing them as promoters, passives, or detractors.
What good looks like for this metric: 20-50
Ideas to improve this metric
Regularly collect and act on employee feedback
Enhance internal communication
Recognize and reward achievements
Ensure workload balance
Promote work-life balance
3. Employee satisfaction survey scores
Quantifies employees' overall satisfaction with the company. It's calculated through surveys asking employees to rate their satisfaction on various aspects, averaged into an overall score.
What good looks like for this metric: 70-80%
Ideas to improve this metric
Enhance job role clarity
Provide consistent feedback
Create a trustful environment
Increase engagement in decision-making processes
Offer flexible working hours
4. Absenteeism rate
The percentage of workdays lost to unplanned absences. It's calculated by dividing the total number of unplanned absence days by the total number of available working days, multiplied by 100.
What good looks like for this metric: 1.5-3%
Ideas to improve this metric
Promote a healthy work environment
Implement wellness programmes
Offer flexible leave policies
Address work-related stress
Provide mental health support
5. Training participation rate
The percentage of employees participating in professional development programmes. It's calculated by dividing the number of employees who participate in training by the total number of employees, multiplied by 100.
Having a plan is one thing, sticking to it is another.
Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to keep your strategy agile – otherwise this is nothing more than a reporting exercise.
A tool like Tability can also help you by combining AI and goal-setting to keep you on track.
Tability's check-ins will save you hours and increase transparency
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