Employee Retention Rate Calculator is an excel template to calculate employee turnover rates for companies on a yearly, half-yearly, quarterly, and monthly basis.
Employee Retention Rate is important HR metric regularly use by HR professionals.
What Is Employee Net Retention Rate?
Employee Retention is the ability of a company to retain its employees. In short, Employee Retention Rate is percentage of employees staying with an organization during specific period.
Moreover, HR managers seek best talent to fill their positions. Retaining these employees by satisfying them in the jobs is very important for net revenue retention.
Regular checks on retention rate will help take the necessary steps to retain(hold) the qualified and trained staff for your organization.
Formula To Calculate Employee Retention Rate
The formula to calculate Employee Retention Rate is as follows
The Retention Rate is opposite of the Attrition Rate. Retention Rate is the number of employees who joined at the start of a specific period and have stayed with the organization during that period. Whereas, the attrition rate is the number of employees leaving organization during a specific period.
Employee Retention Rate Calculator Excel Template
To simplify process of calculating the retention rate, we have create a simple and easy Employee Retention Rate Calculator Excel Template with predefine formulas.
You can derive yearly, half-yearly, quarterly, and monthly retention rates by entering strength of employees at the start and end of period and it will automatically calculate the retention rate for you.
so, This template can be useful to HR professionals, HR assistants and small business owner.
How To Use Employee Retention Rate Calculator Excel Template
This template also consists of 4 sections:
- Firstly, Yearly Retention Rate
- Secondly, Half-Yearly Retention Rate
- Thirdly, Quarterly Retention Rate
- Monthly Retention Rate
1. Yearly Retention Rate
Organizations usually measure Retention rate on yearly basis. To find yearly retention rate you need to enter only 2 details:
- Number of employees at the beginning of the year
- The number of employees Previously joined and are still with Company at the end of the year.
2. Half-Yearly Retention Rate
Moreover, Bigger or medium-sized organizations have more employees and have too much movement in their workforce. They usually measure the Retention rate on a half yearly basis.
Somehow, the Yearly basis, here also you need to provide only two details and it will calculate the retention rate for you.
3. Quarterly Retention Rate
However, You can also calculate the retention rate every quarter with this template. Enter the number of employees at the beginning and end of the quarter. The results will display in the cell below.
4. Monthly Retention Rate
Moreover, Big MNCs with too many employees measure retention regularly. So, This template will also help you calculate the monthly retention rate. Also, Enter the data in light blue fields and the results will be displayed in the cell below.