and the increasing cost in hiring and training new employees. Yet, desirable turnover can benefit the company by replacing poor-performing employees, or unfit characters in the operation. How to Calculate Employee Turnover? Being a crucial index in the diagnosis of a company’s well-being, employee turnover rate helps the employers better understand their operations and workforce. Such figure can be simply calculated, using the following formula: Employee Turnover Rate Formula Causes of Employee Turnover The following list concludes

clearer picture of the hiring process. Their main function is to provide indicators that can be tracked, measured or acted on to inform or improve the recruitment process. Examples could include: Examples could include: Time to hire Time to fill Cost per hire Quality of hire Offer acceptance rate Turnover rate Retention rate Revenue per employee Employee engagement rate Applicants per hire One of the most notable HR metrics on this list is time to hire, which gives employers an

the United Kingdom have been integrating remote teams in their work force. Back then, remote workers or telecommuters comprised 10% to 15% of the work force. Today it is estimated that 30% to 45% of most US companies are composed of telecommuters. A study by Virgin Media Business Report estimates that by 2020 more than 60% of the workforce will be telecommuters. For these companies, remote work provides several advantages: Streamlines cost Improves productivity Lowers employee turnover Enhances business flexibility

a business’s performance. These HR measurements allow different aspects of the business to be analyzed, ultimately supporting business decisions made at the executive level. There are different types of HR metrics available, which can be categorized into a list of HR metrics below. While the examples of HR analytics below are not all-encompassing, they are the most prevalent HR measurements used in the field. Recruitment Time to hire Time to fill Cost per Hire Early Turnover Employee growth

each team member. This inclusivity contributes to a more innovative and dynamic work environment, where diverse ideas and perspectives are welcomed and celebrated. 📚Further reading: Creating an Inclusive Workplace: a How-to Guide for Staff and Employers 5. Reduces turnover rates through empathetic leadership Empathy in leadership encourages people and supports teams effectively. Companies with empathetic work cultures enjoy greater employee retention , avoiding the costs of recruitment and the stress associated with staffing shortages. 6. Empowers employees to contribute

Increase productivity A high turnover rate can lead to many internal problems within an organization, one of which is the loss of productivity. The fact is that it normally takes a new hire about one year to reach the productivity of an existing employee and build relationships with other colleagues. Low employee turnover, on the other hand, can save an organization from productivity losses by ensuring a positive employee experience and maintaining a healthy work environment. 3. Reduce training costs

the recruitment process, such as: Increasing the number of applicants: by presenting the company holistically, including non-tangible aspects such as company culture and values, more applicants are likely to be enticed into applying for an open position. Reduce recruitment costs: a higher number of applicants would in turn reduce recruitment costs such as hiring external recruiters, or paying for recruitment platforms, advertisements and promoted posts. Reduce turnover rates: by having an honest employer branding strategy, applicants already anticipate the

and corporate culture. Decreasing employee turnover rate There are many reasons why an employee quits, and one of them is the lack of chances to move upward or expand their expertise into other areas. With more employees quitting—-a higher turnover rate—-comes the raises in administrative costs and the decreases in efficiency. As an HR manager, you have to consider the economical benefits of internal recruitment. Therefore, companies can assure a long trustworthy relationship with their employees by recruiting

How Promoting Mental Health in the Workplace Benefits Both Employees & Businesses In today's fast-paced and highly connected work world, mental well-being is as important as physical health. Mental health in the workplace isn't just a buzzword for business. In a recent Mental Health at Work report, 84% reported at least one workplace factor had negatively impacted their mental health in the past year. This mental health in the workplace statistics signifies a rising concern of employees

One of the key responsibilities of a recruiter is to ensure top-quality candidates are sourced for any open positions available at the company you are recruiting for. Often, it can be challenging to know whether the candidate you have found is the best possible hire for the role, as it can be difficult to judge competencies such as vision, intelligence, and integrity. There are numerous ways to go about it, like resume/CV screening, traditional phone interviews, group interviews