The Retention Rate KPI is one of a set of vital HR KPIs we have created in bob to help you track and analyze your organizational HR objectives, and optimize processes such as workplace management, employee programs, and more.
What is the Retention Rate KPI?
Located in the Workforce Stability category of People Insights, the Retention Rate KPI reflects a company's ability to retain its employees. The KPI extracts the percent of employees who stay with the company throughout a 12 month period. The KPI is calculated using a 12 month sliding window based on the selected month, with the following calculation:
The Retention Rate metric provides reflection on the success of your retention efforts and helps you plan for talent replacement. It's the ideal tool for tracking the root causes of a high turnover rate to identify possible problem areas that need fixing.
How to use Retention Rate KPI
Find out your company's retention rate and specifics about leavers and retained employees, and filter according to your needs. Data is displayed for each month in the selected time range.
- Select the period for which you would like to view new employee data in the date field, in one of two ways: a. Preset Range: choose between presets periods like last 6 months or entire company history. b. Custom Month Rage: select a From and To month from the calendar picker. *To select a single month click on the chosen month twice.
- Press on the Filter button to create a new filter so that you can focus on what is most important to you, for instance "what is the retention rate of the Sales department?"
- Export your Retention Rate KPI data to .xls or .csv file, and download the graph as a .png or .svg file.
Tips for optimizing the Retention Rate KPI data
- Make sure your employees' start and end dates are correct.
- Make sure you have permissions to view the work and lifecycle categories of other employees.
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