How to Calculate Labour Turnover
Know what time period you wish to calculate labour turnover for., Establish the the mean average and total amount of people employed during this period., Think of which type of labour turnover you wish to calculate., Calculate the labour turnover.
Step-by-Step Guide
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Step 1: Know what time period you wish to calculate labour turnover for.
Seeing as labour turnover is an applicable statistic for a chosen length of time, this step is necessary.
As an example, from the years 2012-2013. -
Step 2: Establish the the mean average and total amount of people employed during this period.
This does not, however, refer to the amount of positions available.
As an example, say 55 people were employed on average and 80 were employed in total throughout the chosen timeframe of 2012-2013. , Categorizing by reason of unemployment can also provide a greater insight.
You can use categories such as "voluntary" or "involuntary"
for example.
These categories may be arbitrary but they can aid in predicting future trends.
As an example, say you would like to calculate the voluntary labour turnover for the years 2012-2013. , In order to calculate labour turnover correctly, the following formula is used:
The average Number of unemployment during a period ÷ Number of employees of that given period x
100.
So, if the previous examples are used, the business with 55 average employees and 80 total employees, the labour turnover would be: 55÷80x100 =
68.75% (remember that labour turnover is percentage calculation).
You can then further calculate labour turnover in your chosen categories and compare percentages. -
Step 3: Think of which type of labour turnover you wish to calculate.
-
Step 4: Calculate the labour turnover.
Detailed Guide
Seeing as labour turnover is an applicable statistic for a chosen length of time, this step is necessary.
As an example, from the years 2012-2013.
This does not, however, refer to the amount of positions available.
As an example, say 55 people were employed on average and 80 were employed in total throughout the chosen timeframe of 2012-2013. , Categorizing by reason of unemployment can also provide a greater insight.
You can use categories such as "voluntary" or "involuntary"
for example.
These categories may be arbitrary but they can aid in predicting future trends.
As an example, say you would like to calculate the voluntary labour turnover for the years 2012-2013. , In order to calculate labour turnover correctly, the following formula is used:
The average Number of unemployment during a period ÷ Number of employees of that given period x
100.
So, if the previous examples are used, the business with 55 average employees and 80 total employees, the labour turnover would be: 55÷80x100 =
68.75% (remember that labour turnover is percentage calculation).
You can then further calculate labour turnover in your chosen categories and compare percentages.
About the Author
Jose Campbell
A passionate writer with expertise in practical skills topics. Loves sharing practical knowledge.
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