Developing an effective Turnover metrics can be intimidating, especially when your daily duties demand your attention. To assist you, we've curated a list of examples to inspire your planning process.
Feel free to copy these examples into your favorite application, or leverage Tability to maintain accountability.
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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.
The percentage of employees who leave the company during a certain period of time, calculated by dividing the number of employees who leave by the average number of employees and multiplying by 100
What good looks like for this metric: 10-15%
Ideas to improve this metric
Enhance employee engagement programmes
Improve internal communication
Offer competitive salaries and benefits
Create a clear career progression path
Regularly review and improve company culture
2. Time to Hire
The average number of days it takes from when a job opens until an offer is accepted, indicating the efficiency of the hiring process
What good looks like for this metric: 40-50 days
Ideas to improve this metric
Streamline the interview process
Utilise applicant tracking systems
Enhance job descriptions
Build a talent pipeline
Increase employer branding
3. Employee Engagement Rate
The level of employee commitment and involvement towards their organisation, typically measured through surveys and engagement scores
What good looks like for this metric: 70-80%
Ideas to improve this metric
Regularly conduct employee surveys
Offer professional development opportunities
Recognise and reward employees
Foster a positive work environment
Encourage regular feedback sessions
4. Absenteeism Rate
The percentage of workdays employees are absent, calculated by dividing the number of days missed by the total number of workdays available
What good looks like for this metric: 1.5-3%
Ideas to improve this metric
Implement wellness programmes
Improve workplace conditions
Address potential causes of stress
Provide flexible work options
Promote a healthy work-life balance
5. Training Cost Per Employee
The amount of money spent on training each employee, including materials, time, and any external training sessions
What good looks like for this metric: $1,000-$1,500
Ideas to improve this metric
Evaluate the effectiveness of existing training programmes
Having a plan is one thing, sticking to it is another.
Setting good strategies is only the first challenge. The hard part is to avoid distractions and make sure that you commit to the plan. A simple weekly ritual will greatly increase the chances of success.
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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