Promotion Rate Calculator is an excel template to calculate percentage of promotion taking place in a company during a specific period of time. By entering 2 fields you can calculate promotion rate for your company.
- It helps managers to recognize employee commitment to the company and his performance.
- It encourages employee to perform well.
- A competitive spirit employee is necessary. Promotions help to ignite fire.
- Provides employee a sense of job satisfaction where he is valued for work done and makes them loyal and sincere to the company.
What is Promotion Rate?
Moreover, The promotion rate is percentage of promotion taking place in a company during a specific period of time against total employees that are eligible for the promotion.
In other words, it is average rate at which employees are promoted in an organization. So, A higher rate of promotion puts company into good books.
Formula To Calculate Promotion Rate
The promotion rate is calculated in two ways:
- Against Eligible Promotions
- Against total Head Count
Promotion Rate Calculator Excel Template
To simplify the process and help you get both types of sales promotion rates together. We have create a simple and easy Promotion Rate Calculator Excel Template with predefine formulas.
Thus, You just need to enter very few details and it will calculate promotion rate for you.
How to use the Promotion Rate Calculator?
There are 2 sections:
- Promotion Rate (General)
- Promotion Rate Department Wise
1. Promotion Rate (General)
As discussed earlier, promotion rate has been calculate in both ways; against eligible promotions and also against total headcount.
Therefore, you need to enter 2 details; No. of Promotions and No. of Employees Eligible for Promotions. This will give you promotion rate against eligible promotions.
Moreover, you need to enter 2 details; No. of Promotions and total headcount. Thus, it will give you promotion rate against total headcount.
2. Promotion Rate Department Wise
This section is useful when the company has a higher number of employees and different departments. Enter following 3 details for each department:
No. of Promotions
No. Of Eligible Employees for Promotion
Thus, This will calculate promotion rate for each department and also the total promotion rate for the company.