Employee Retirement Rate Calculator is a ready-to-use excel template for to you calculate the rate of retirements in your organization.
However, This Human Resource metric is useful for recruitment planning, forecasting retirement rates, study retirement trends, etc. So, You can also define future recruitment strategies.
Moreover, Retiring employees contribute to the Employee Turnover Rate. Therefore, It is a proportion of the total turnover rate. Hence, Retirement Rate is different from the turnover rate and 401k rate of return.
What is Retirement Rate or safe withdrawal rate?
Employee Retirement Rate is percentage of employees retiring against the total headcount of the company. Hence, this rate is key workforce planning metric.
Thus, a rise in the retirement rate indicates a future labor supply issue. Usually, this metric is important for companies in developing a strategic workforce plan.
Employee Retirement Rate Calculator Excel Template
Thus, Retirement Rate Calculator is a simple and easy excel template with predefined formulas.
Furthermore, you can calculate retirement rate department-wise as well as of organization with this template. Just enter 3 details and template will calculate the retirement rate for you.
Contents Of Employee Retirement Rate
This template consists of 2 sections:
- Retirement Rate
- Department-wise Retirement Rate
The first section for calculating retirement rates for the complete organization. You need to insert only 2 details: number of retirees and total employee headcount.
The cell consists of predefine formulas and it automatically calculates the retirement tax tables for you.
Department-wise Retirement Rates
Thus, This section is applicable to those companies with a bigger workforce and multiple departments. So, It consists of the following columns:
Sr. No: Serial Number
Retiree Count: No of retiring employees of the particular department.
Headcount: Total headcount of employees of that particular department.
Department: Insert the name of department.
ERR: ERR stands for employee retirement rate. This column consists of a predefine formula. Hence, you don’t need to make any entry in this column separately. It calculates the whole company’s retirement rate as department-wise.
This template can be useful to HR professionals, HR assistants, and company management to take important recruiting decisions.