The Attrition 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 Attrition Rate KPI?
Located in the Retention category of KPIs in the Analytics module, the Attrition Rate KPI refers to the percentage of employees who leave the company voluntarily over a period of time. To calculate this rate, the average number of employees over a selected period is first calculated:
The Attrition Rate KPI is then calculated using the number of voluntary leavers as per the formula below:
The Attrition Rate metric reflects your retention efforts and is an excellent measure of company culture, employee satisfaction and engagement. Along with the Retention Rate and Turnover Rate KPIs, you are able to identify possible problem areas that may need addressing to help you retain your talent.
Note: An additional overlay chart presents the rolling 12 months’ attrition rate and is calculated using a 12 month sliding window
How to use the Attrition Rate KPI
When you head over to the Attrition Rate KPI, you can see the number of terminated employees for a particular month, quarter, or year with a range of filters and groupings. Data is displayed for each period in the selected time range.
To get started with Attrition Rate KPI, follow these steps:
Step 1: Set up category view settings
You can set bob to view KPI data for a particular month, quarter, or year displayed over any time period. Whenever you configure these settings, it will impact how all of the KPI categories will be showcased in bob.
Step 2: Configure the Attrition Rate KPI
Define how you’d like to review the Attrition Rate KPI data. You can choose from an array of analytics options to view your data, including condition-based filtering, several different chart types, and more.
To slice, dice and filter your data click on the Grouped By dropdown and choose what to focus on
Click on the arrow ∨ to the right of the chart symbol
Click on the desired chart type
Note: certain chart types may not be available in instances where they are irrelevant to the chosen data set.
Click the subgroups in the legend to deselect them from the view, and click on them again so that they reappear on the chart
Activate the Over time toggle to see the total sum of the KPI data over the entire period selected in the Date range described in Step 1. This will override the KPI category View setting.
Activate the Rolling 12 months toggle to overlay the previous year’s turnover rate over the chart based on the selected Date range
Activate the Values toggle to showcase the numerical value of the data set
Note: activating or deactivating the Over time toggle impacts the available chart types
8. To add additional filters, click the three dot menu followed by Filter
a. Use the dropdowns to select fields and configure conditions to filter by
b. Click + Add condition to create additional rules and repeat as many times as you'd like
c. To remove a condition, hover over it, and click the trash icon that appears to the right of the condition
d. Press Apply
9. To reset your chart configurations, click the three dot menu followed by Reset
10. To download the chart, click the three dot menu followed by Download and then the file type you’d like to download it as. You can export a chart as a .png, .jpeg, .pdf or .svg file.
11. To see the in-depth employee data included in the KPI view you have configured, click View more details under the chart
a. Click on a part of the chart (e.g. one of the bars in a bar chart or a segment in the donut chart). The table below the chart will display the data that specifically matches the grouping you selected, showing all of the people that belong to that group.
b. Use the column picker found in the top right of the table to add or remove employee information in the table
c. Click on the download button to the right of the column picker to download the employee data either as an .xlsx or .csv file
d. Click Back at the top left of your screen to return to the dashboard
Tips for optimizing the Attrition Rate KPI data
Make sure your employees' termination type, start and end dates are up to date
Make sure you have permissions to view the work and lifecycle categories of other employees
Need more help? If you're unsure about anything please send us a message through the chat icon below.