For example: Beginning of month = 100 employee Total left = 20 End of month = 100-20 = 80 Average no. =(100+80)/2 = 90 So, the turnover rate should be (20/90) x 100 = 22.2% and not (20/100)x100 = 20% turnover?
Hi Siew, it's a formula portraying the "average" outflow of the staff over a month in % by taking into account the joining of new staff during the month. I found the formula from a book by a Canadian writer. I agree that it sounds controversial though. =^>