In every organization, it may be quite costly to have an employee turnover. It does not only entails financial expense over the loss of employees. It also involves time component, too. Every time a specific employee leaves a company, both time and money will be invested in order to find replacements for the vacant position. The newly hired employees have to undergo training to ensure that each individuals are prepared for their new roles and responsibilities. This is why turnover reports are made. It is simply there to assign a number to the rate at which the employees are leaving in the company. In this article, you will be able to know more about what a turnover report is and how to create one.
A turnover report, by definition, provides the information with regards to the aspect of turnover intended for salaried positions in a selected time period. It is also a type of report that shows the number of the terminated employees among the active employees in a specific company or organization. It can be an analysis report and would usually be conducted monthly. When writing a turnover report, you should be able to incorporate the turnover ratio which shows the percentage of the employee departures based on the existing and newly hired personnel.
10+ Turnover Report Samples
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How to Write a Turnover Report?
- Include specific numbers and steps to get the results or the percentage. The numbers must be placed in an easy-to-read table so that the readers including the supervisors and other department staffs will not have a difficulty in understanding it. The data that will be expressed in the report should give an alert to the management as an indication if an employee retention could become a serious issue to the company.
- Items should be displayed in the table within the turnover report. Identify a series of numbers and timeframe in which the turnover can be measured. Include columns that will be used for the additional employees that are hired during the time period. It is for the purpose of creating a subtotal to which the new workers are accounted for.
- Create a column intended for identifying the total number of employees who are left during a specific period. Include those employees who are not working in the company anymore, those that have resigned, and those that have been terminated. The next column will be intended for those who remain after the turnover.
- Create a turnover ratio. This is considered the last column of the turnover report. You have to follow a specific equation for it. You have to divide the number of the departing employees by the total personnel which includes the newly hired ones during that specific period. After that, multiply the result by 100. The result will be called as the turnover ratio.
There are a lot of business industries or organizations that rely on part-time workers at a particular season or time of the year. If this would be the case, create an additional turnover ratio. Take note that the higher your turnover ratio is, the more you will be dealing with employee retention issue in your organization.
What are some of the fields included in the report?
It includes class code, class title, beginning period number of positions, beginning period number of vacant positions, beginning period percentage of vacant positions, ending period number of positions, ending period number of vacant positions, ending period percentage of vacant positions, average number of positions, number of separations, and turnover percentage.
What are some ways to prevent employee turnover and promote employee retention?
It includes recruitment, on-boarding, increase in employee engagement, training the employees, and payment opportunities.
How are you going to prepare for an employee turnover rate?
Get the information, prepare the document, begin to make an analysis and evaluation, draw a conclusion, and prepare for a complete report.
If you want to see more samples and format, check out some of the turnover report samples and templates provided in the article for your reference.
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