Calculating Retention Percentage
Another query that I have is how you calculate "Retention Percentage" in your Organization?
What period do you calculate, while calculating Retention Percentage?
While Calculating "Retention Percentage" do you also consider those new hires that have joined towards the end of the Period???
For Beginners, "Retention Percentage" is not Opposite of "Attrition Rate". For example, if the attrition rate of your organization is 18% that does not imply that the Retention Percentage is 82%.
Kindly help me in understanding, the way you calculate "Retention Percentage" in your Organization.
Awaiting your reply.
Regards
Sanjeev Sharma
(BLOG: http://sanjeevhimachali.blogspot.com/ )
From India, Mumbai
94Another query that I have is how you calculate "Retention Percentage" in your Organization?
What period do you calculate, while calculating Retention Percentage?
While Calculating "Retention Percentage" do you also consider those new hires that have joined towards the end of the Period???
For Beginners, "Retention Percentage" is not Opposite of "Attrition Rate". For example, if the attrition rate of your organization is 18% that does not imply that the Retention Percentage is 82%.
Kindly help me in understanding, the way you calculate "Retention Percentage" in your Organization.
Awaiting your reply.
Regards
Sanjeev Sharma
(BLOG: http://sanjeevhimachali.blogspot.com/ )
From India, Mumbai
Hi sir,
we are calculating the attrition by no. of employess left in the year / total no. of employees as on date in the organisation
means 100 employees left during the year and No. of employees as on March 31st is 1071 the attrition is 9.33 % but generally peolple calculating retention opposite to the attrition. so her retention is 90.7 %
please let me konw your views
Thanks
Subodh
From India, Mumbai
we are calculating the attrition by no. of employess left in the year / total no. of employees as on date in the organisation
means 100 employees left during the year and No. of employees as on March 31st is 1071 the attrition is 9.33 % but generally peolple calculating retention opposite to the attrition. so her retention is 90.7 %
please let me konw your views
Thanks
Subodh
From India, Mumbai
Subodh, let others also share their views; but Retention percentage is not opposite to attrition percentage. Just like not having sickness doesn't mean that you are healthy.
Regards
Sanjeev Sharma
From India, Mumbai
Regards
Sanjeev Sharma
From India, Mumbai
Dear Mr. Sanjeev,
For retention percentage - the methodology we have started to find what percentage of employees are retained after a specific period of time is mentioned below. This is specially to know for our old employees or say such of those who are with us from last 6 months & more - it thus shows, if we could retain this lot for more than 6 months, means no alarming change to be made in our existing HR policies , this may exclude cases of Natural unpreventable attrition.
For this purpose, as an example - we take strength as on 30th June and see how many of the old employees (i.e working > 6months with us or say joined before 30th June) have left during the half year July to Dec.
Because, by doing so it reflects or shows some meaningful data, to introspect/analyze the actual reason as to why we are unable to retain some of our senior employees, if their retention level has droped. I do the same procedure after 6 months for new recruits seperately.
This ofcourse needs some more fine tuning. Let us share something from others.
Suhas Garde
For retention percentage - the methodology we have started to find what percentage of employees are retained after a specific period of time is mentioned below. This is specially to know for our old employees or say such of those who are with us from last 6 months & more - it thus shows, if we could retain this lot for more than 6 months, means no alarming change to be made in our existing HR policies , this may exclude cases of Natural unpreventable attrition.
For this purpose, as an example - we take strength as on 30th June and see how many of the old employees (i.e working > 6months with us or say joined before 30th June) have left during the half year July to Dec.
Because, by doing so it reflects or shows some meaningful data, to introspect/analyze the actual reason as to why we are unable to retain some of our senior employees, if their retention level has droped. I do the same procedure after 6 months for new recruits seperately.
This ofcourse needs some more fine tuning. Let us share something from others.
Suhas Garde
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