Sponsored: Here’s What Your Turnover and Retention Rates Should Look Like

According to SHRM’s 2017 Human Capital Benchmarking report, the average overall turnover rate in 2016 was 18 percent. If you are an HR manager, you might look at that number and compare it to your organisation’s rate and make a simple calculation: if your number is lower, you’re doing great, but if it’s higher, you need to do some work.

Unfortunately, calculating employee turnover and retention just isn’t that simple.

The ideal turnover rate (the number of employees who have left your company during a certain time period) and retention rate (the number of employees who have stayed at your company for a certain amount of time) for your organisation aren’t necessarily the average rates listed on national surveys — they’re going to depend on factors such as your industry, your historical turnover rate and internal promotion rate. And if you don’t take…

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