Download New Hire Turnover Rate Calculator Template In Excel

New Hire Turnover Rate Calculator is an excel Template to calculate percentage of new hires who leave company in a given period of time.

We need to understand what is it and how it is calculate.

New Hire Turnover Rate

The turnover rate is proportion employee leaving company for what ever reason, but new hire turnover rate is when your newly recruit workforce leaves the organization.

In simple terms, percentage of newly recruit employees leaving organization against total number of new hires during specific period of time is called New Hire Turnover Rate. According to study conduct, the normal new hire turnover rate is 20%.

So, Lower New Hire Turnover Rate indicates effectiveness of your recruitment process. The newly recruit staff stays with company for longer periods helps you lower recruitment cost.

New Hire Turnover Rate Calculation

To simplify process, we have create a simple and easy New Hire Retention Rate Calculator in Excel with predefine formulas.

Similarly, With the help of this template, you can calculate New Hire Turnover Rate in general if you have a small workforce. But if your company has larger workforce and multiple departments, this template helps you calculate the New Hire Turnover rate department wise.

How To Use New Hire Turnover Rate Calculator Excel Template

Thus, There are 2 sections in this template:

  1. New Hire Turnover Rate
  2. Department Wise New Hire Turnover Rate

1. New Hire Turnover Rate

So, Enter 2 following details to derive your New Hire Turnover Rate:

  • No of  New Hire that left during first 90 Days
  • Total No. of New Hires during that period.

Applying the above mentioned formula, the third line will display the new hire turnover rate.

2. Department Wise New Hire Turnover Rate

Moreover, Companies with larger workforce and multiple departments can use this section to calculate department wise New Hire Turnover Rate.

Similar to above section, enter two details pertaining to each department and it will automatically calculate turnover rate for that department as well as for the whole company.

Reasons for New Hire Turnover

However, Some possible reasons are:

  • Mismatch in job responsibilities before and after joining.
  • The communication gap between candidate and the reporting authority.
  • Not Enough Training is provided related to job post.
  • Excess workload.
  • Colleagues harassment.
  • Better Pay and Better benefits from your competitor.
  • Remote locations of the company.

How To Reduce New Hire Turnover Rate

  • Review and rectify loops in your current hiring process.
  • Onboarding programs should be made for newly joined candidates.
  • The hiring Manager and reporting managers must coordinate with newly recruit candidates.
  • Providing healthy and feasible work environment.
  • Provide Proper Training pertaining to job roles.

Download this New Hire Turnover Rate Calculator template in Excel Format

Our easy to use editable Excel templates and save your significant amount of time and effort. Here’s how to download and use one of our templates:

  1. Download this free Excel Template: Once you’ve browsed through our collection of templates and find the one that best fits your needs. Once you’ve found the template you want, click on the download button.

  2. Replace sample data with your actual data: Once the template is downloaded, open it in Excel. You’ll see that it is already set up with sample data. To start analyzing your own data, simply replace the sample data with your actual data.

  3. Customize the template: Our templates are completely editable, which means you can customize them to fit your specific needs. For example, you can change the formatting, add or remove columns, or create new charts and graphs.

  4. Use the Excel template: Once you’ve fed in your data and customized the template, you’re ready to start using it for data analysis. Use the various tools and features of Excel to analyze and visualize your data, and make informed business decisions.

  5. Save and share: Once you’ve finished working on the template, save it to your computer and share it with other members of your team or stakeholders as needed.

Click Download Button To Get New Hire Turnover Rate Calculator Excel Template

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