{"id":953,"date":"2017-10-24T12:06:57","date_gmt":"2017-10-24T10:06:57","guid":{"rendered":"https:\/\/factorialhr.com\/blog\/?p=953\/"},"modified":"2023-12-13T11:43:30","modified_gmt":"2023-12-13T09:43:30","slug":"causes-high-turnover-rate","status":"publish","type":"post","link":"https:\/\/factorialhr.com\/blog\/causes-high-turnover-rate\/","title":{"rendered":"High Turnover Rate: What Does it Mean for Your Company?"},"content":{"rendered":"<p>As \u201ca small leak will sink a great ship,\u201d <strong>a high turnover rate can bring down a great workforce<\/strong>. While turnover is a normal part of any organization, excessive talent loss can do serious damage.\u00a0 For this reason, it is important to understand how to calculate the turnover rate of your company and recognize some of the causes of high turnover.<\/p>\n<p>Over the past year, many companies have experienced a <strong>record amount of employee resignations<\/strong>.<\/p>\n<p>Thankfully, there are strategies that HR can adopt to manage employee turnover.\u00a0 Often, turnover is a symptom of underlying dysfunction in the company culture.<\/p>\n<p>This article will help you to <strong>diagnose the causes of turnover<\/strong> and develop a working <strong>strategy<\/strong> for your organization.<\/p>\n<ul>\n<li><a href=\"#what\">What is a Turnover Rate?<\/a><\/li>\n<li><a href=\"#is\">What is a High Turnover Rate?<\/a><\/li>\n<li><a href=\"#how\">How to Calculate Turnover Rate<\/a><\/li>\n<li><a href=\"#top\">Top Reasons for Employee Turnover<\/a><\/li>\n<li><a href=\"#the\">The Impact of High Staff Turnover<\/a><\/li>\n<li><a href=\"#turnover\">Turnover Costs and Losses<\/a><\/li>\n<li><a href=\"#reduce\">How to Reduce Employee Turnover<\/a><\/li>\n<li><a href=\"https:\/\/factorialhr.com\/hr-reports\">Measure your turnover rate with HR analytics software \ud83d\udcca<\/a><\/li>\n<\/ul>\n<h2><a name=\"what\"><\/a>What is a Turnover Rate?<\/h2>\n<p>The turnover rate reflects the number of employees who have left over a certain period.\u00a0 It is one of <a href=\"https:\/\/factorialhr.com\/blog\/hr-kpis\/\" target=\"_blank\" rel=\"noopener\">the most important HR KPIs<\/a>, as it <strong>reflects the overall health and stability of your company<\/strong>. Generally, the turnover rate is calculated with workforce data over the course of a year.<\/p>\n<p>As many HR professionals know, the reasons for employee departure are countless.\u00a0 They might include resignation, termination, health reasons, or retirement. However, the turnover rate should not be confused with the <a href=\"https:\/\/factorialhr.com\/blog\/attrition-rate\/\" target=\"_blank\" rel=\"noopener\">attrition rate<\/a>, which reflects <strong>unreplaced employee departure<\/strong>.<\/p>\n<p>HR professionals can calculate employee turnover by department, by position, or by any category of their choosing. When there are vacancies that frequently need to be filled, it is said that there is a high turnover rate.<\/p>\n<p>There are two distinct types of employee turnover, <strong>voluntary rotation, and involuntary rotation.<\/strong><\/p>\n<h3>Voluntary Turnover<\/h3>\n<p>As the name states, this kind of job rotation occurs <strong>when an employee voluntarily leaves the company<\/strong>.<\/p>\n<p>There are various causes of voluntary turnover.\u00a0 Some of the most common reasons for voluntary employee departure include<\/p>\n<ul>\n<li>A more competitive job offer<\/li>\n<li>Hostility with coworkers<\/li>\n<li>Feelings of underappreciation<\/li>\n<li>Poor compensation and\/or benefits<\/li>\n<li>Feelings of exclusion<\/li>\n<\/ul>\n<p>Although voluntary turnover is sometimes inevitable, HR can help to reduce some of these causal factors.\u00a0 It should be a goal to work towards a healthy, inclusive, and comfortable environment for employees.<\/p>\n<h3>Involuntary Turnover<\/h3>\n<p>When a worker is<strong> unwillingly terminated from the company<\/strong>, it is considered to be involuntary rotation.<\/p>\n<p>Although it may not seem obvious, there are ways to reduce <a href=\"https:\/\/factorialhr.com\/blog\/involuntary-termination\/\" target=\"_blank\" rel=\"noopener\">involuntary termination<\/a>.\u00a0 In order to reduce involuntary turnover, HR can use <a href=\"https:\/\/factorialhr.com\/blog\/people-analytics\/\" target=\"_blank\" rel=\"noopener\">people analytics<\/a> to determine the causes of the termination. Was it due to inadequate training or tools? Are there better ways of supporting team members who are unsure of their role?<\/p>\n<p>Involuntary rotations can\u2019t be avoided 100%, but it\u2019s best to minimize them as much as possible.<\/p>\n<h2><a name=\"is\"><\/a>What is a High Turnover Rate?<\/h2>\n<p>High turnover occurs when a position is frequently vacant. High rotation means the position is vacated and filled repeatedly.<\/p>\n<p><strong>A high employee rotation has serious negative effects on a company.<\/strong> If there is a high rate of turnover and rotation, it is crucial to find out why it is occurring.<\/p>\n<p>In order to prevent high turnover, it is necessary to calculate the turnover rate at your company. Then, you can take action and make the required adjustments to lower it.<\/p>\n<p style=\"text-align: center;\"><iframe src=\"\/\/www.youtube.com\/embed\/108b4TIqBn4\" width=\"560\" height=\"314\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h2><a name=\"how\"><\/a>How to Calculate Turnover Rate<\/h2>\n<p><strong>To calculate the turnover rate<\/strong> you need the number of employees who leave and are replaced in a given timeframe. \u00a0Like many other <a href=\"https:\/\/factorialhr.com\/blog\/metrics-for-hr-reports\/\" target=\"_blank\" rel=\"noopener\">metrics used in HR reports<\/a>, employee turnover reflects data collected over the course of a year.<\/p>\n<h3>Calculation for Turnover Rate<\/h3>\n<p>To calculate the turnover rate, you need the following:<\/p>\n<ul>\n<li>Number of employees who left within a given period<\/li>\n<li>The average number of employees within a given period<\/li>\n<\/ul>\n<p>The formula for calculating the turnover rate is as follows.<\/p>\n<p style=\"text-align: center;\"><strong>Turnover rate (%) = (Number of Leavers\/Avg. Number of Employees) x 100\u00a0<\/strong><\/p>\n<p>Calculating the average number of employees is simple. First, add together the following<\/p>\n<p style=\"text-align: center;\"><strong>(Employees at the beginning of the period + Employees at the end of the Period)\/2<\/strong><\/p>\n<p>Voila! Ready to plug into the turnover rate calculation!<\/p>\n<h3>Turnover Rate Calculations: Example<\/h3>\n<p>Let\u2019s try with an example. If a 200 person company hired 20 and lost 10 within a year, what would the annual turnover rate look like?<\/p>\n<p>First, calculate the average number of employees:<\/p>\n<p style=\"text-align: center;\"><strong>(200+220)\/2 = 210<\/strong><\/p>\n<p>Now, let\u2019s put the average into the turnover rate formula:<\/p>\n<p style=\"text-align: center;\"><strong>Turnover rate (%) = (10\/210) x 100 = Approximately 4.76%<\/strong><\/p>\n<p>Once you have the results, you can analyze them and see if you fall into the standard turnover rate range. <strong>Depending on the type of business, and its nature, the average turnover rate will differ<\/strong>.<\/p>\n<p>Keep in mind that a turnover rate of 0% is not necessarily good. Although it means that there is no problem with retaining talent, it might point towards an inability to evolve in the long term.<!-- end HubSpot Call-to-Action Code --><\/p>\n<p><a href=\"https:\/\/factorialhr.com\/request-demo\"><img decoding=\"async\" class=\"alignnone  wp-image-123310\" src=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/13114245\/turnover-demo-300x103.png\" alt=\"turnover tracking software demo\" width=\"897\" height=\"308\" srcset=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/13114245\/turnover-demo-300x103.png 300w, https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/13114245\/turnover-demo-768x263.png 768w, https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/13114245\/turnover-demo.png 900w\" sizes=\"(max-width: 897px) 100vw, 897px\" \/><\/a><\/p>\n<h2><a name=\"top\"><\/a>Reasons for High Turnover Rate<\/h2>\n<p>Sometimes employees choose to leave. It is inevitable. However, departures may stem from company policies and practices. Therefore, there are ways to prevent talent loss.<\/p>\n<p>It\u2019s always worth it to ask, how can I prevent employee turnover?<\/p>\n<p>Here are some of the <strong>most common causes of turnover<\/strong> and <strong>tips on how to reduce the likelihood of turnover occurring<\/strong>.<\/p>\n<h3><img decoding=\"async\" class=\"size-full wp-image-74819 aligncenter\" src=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/30164352\/US-Quotes.jpg\" alt=\"turnover-rate-quote\" width=\"2240\" height=\"1260\" srcset=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/30164352\/US-Quotes.jpg 2240w, https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/30164352\/US-Quotes-300x169.jpg 300w, https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/30164352\/US-Quotes-1024x576.jpg 1024w, https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/30164352\/US-Quotes-768x432.jpg 768w, https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/30164352\/US-Quotes-1536x864.jpg 1536w, https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/30164352\/US-Quotes-2048x1152.jpg 2048w, https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/30164352\/US-Quotes-688x388.jpg 688w, https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/30164352\/US-Quotes-1456x820.jpg 1456w\" sizes=\"(max-width: 2240px) 100vw, 2240px\" \/>Turnover and Poor Management<\/h3>\n<p>Frequently, <a href=\"https:\/\/www.forbes.com\/sites\/victorlipman\/2015\/08\/04\/people-leave-managers-not-companies\/?sh=2d4d05ba47a9\" target=\"_blank\" rel=\"noopener\">talent is lost due to ineffective management<\/a>.\u00a0 Aside from creating turnover-related problems, poor management can damage the overall health of your workforce.<\/p>\n<p>Employees who choose to leave due to their managers are often unable to cope with the following qualities.<\/p>\n<ul>\n<li>Micromanagement<\/li>\n<li>Unconstructive communication<\/li>\n<li>Unfocused planning<\/li>\n<\/ul>\n<p><strong>Solution:<\/strong> In order to boost confidence and promote clarity, hold extra trainings for new managers.\u00a0 Make sure that new team members and their managers are well informed of their exact responsibilities.\u00a0 A great way to <a href=\"https:\/\/factorialhr.com\/blog\/hr-goals-kpi-free-okr-template\/\" target=\"_blank\" rel=\"noopener\">clarify goals and progress is with OKRs<\/a>.\u00a0 These can help to keep everyone on the same page.<\/p>\n<h3>Turnover and Lack of Growth Opportunites<\/h3>\n<p>No one likes to feel stuck in their personal or professional lives. Most people search for ways to learn new skills and develop and evolve in their positions.<\/p>\n<p>Ultimately, the gains and losses of the company are tied to employee satisfaction. Discouraged employees tend to feel more apathy towards their work and are less motivated. For this reason, HR should do everything possible to increase employee engagement with growth opportunities and a positive working environment.<\/p>\n<p><strong>Solution:<\/strong> Trainings can help to stimulate professional growth and improve specific skillsets. Undoubtedly, promotions and benefits can be used to reward talent for their hard work.<\/p>\n<h3>Turnover and Insufficient Compensation<\/h3>\n<p>Sometimes offering a competitive salary isn&#8217;t always possible.\u00a0 But compensation is more than just a salary.\u00a0 Employees might be leaving due to a lack of benefits and flexibility.<\/p>\n<p><strong>Solution:<\/strong> In these cases, you should look into other forms of rewarding your employees, like their emotional salary. There are many ways to make job offers more attractive; it&#8217;s not always the monetary salary that attracts top talent.\u00a0 Learn <a href=\"https:\/\/factorialhr.com\/blog\/labor-costs\/\" target=\"_blank\" rel=\"noopener\">how to leverage labor costs to make changes in your workforce<\/a>.<\/p>\n<h3>Turnover and Toxic Work Environments<\/h3>\n<p>A hostile workplace can directly lead to employees leaving.\u00a0 No one likes to work in a toxic environment where they don\u2019t feel at ease.<\/p>\n<p>The more constant the workplace conflict, the greater the likelihood that employees will start to search for other work.<\/p>\n<p><strong>Solution:<\/strong> Find ways to help employees feel integrated and nurtured in an inclusive atmosphere.\u00a0 Use k<a href=\"https:\/\/factorialhr.com\/blog\/employee-satisfaction\/\" target=\"_blank\" rel=\"noopener\">ey HR metrics that measure employee satisfaction<\/a> to gain insight into the needs of your team.\u00a0 Team building activities and workforce planning can help to encourage cooperation and growth.<\/p>\n<h3>Turnover and Poor Recruitment Processes<\/h3>\n<p>Choosing the proper candidate for a position is more than picking the best CV.<\/p>\n<p>The right candidate has the skills and abilities needed for the job but also possesses values that match the company culture. The cost of a bad hire can be very high.\u00a0 For this reason, it might not be worth hiring an individual with goals that aren\u2019t aligned with the position.<\/p>\n<p>New hires may also be driven out the door by an inadequate <a href=\"https:\/\/factorialhr.com\/blog\/what-is-onboarding\/\" target=\"_blank\" rel=\"noopener\">onboarding process.\u00a0<\/a><\/p>\n<p><strong>Solution:<\/strong> Use <a href=\"https:\/\/factorialhr.com\/blog\/workforce-analytics\/\" target=\"_blank\" rel=\"noopener\">workforce analytics<\/a> to determine the goals and needs of the company before hiring new talent.\u00a0 Ask interview questions that help to determine whether or not candidates are aligned with the company\u2019s mission and goals.<!-- end HubSpot Call-to-Action Code --><\/p>\n<p><iframe title=\"How to AVOID Employee Turnover\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/AZBpB3lLZ20?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2><a name=\"the\"><\/a>The Consequences of High Staff Turnover<\/h2>\n<div>\n<p>High turnover takes its toll on everyone.\u00a0 Let\u2019s face it, <strong>constant changes can be draining<\/strong>.\u00a0 When teams are always adjusting, how can they make strides forward?<\/p>\n<p>So, what happens when there is high employee rotation? Here are some of the most common outcomes of high staff turnover.<\/p>\n<h3>Turnover Leads to Low Productivity<\/h3>\n<p>As mentioned before, a high turnover rate brings down motivation levels and increases stress.\u00a0 In fact, low productivity is one of the first visible signs of high turnover.<\/p>\n<p><strong>When positions are always vacant, it is hard on everyone<\/strong>.\u00a0 Higher turnover means additional work for existing employees.\u00a0 Often, they end up covering for employees who have left. This cuts into time spent on regular responsibilities.<\/p>\n<p>New hires need to go through an adaptation period in which they learn how to do their job. This training period also means decreased productivity.<\/p>\n<h3>Turnover Means Changing Teams<\/h3>\n<p>Given the amount of time they spend together, employees tend to become like a family. That means that every change inside a company has the potential to make an emotional impact on the whole team.<\/p>\n<p>With constant turnover, <strong>it&#8217;s difficult for employees to build trust and confidence in one another.<\/strong>\u00a0 Understandably, when turnover is high, it is near impossible to create a shared company culture.<\/p>\n<p>It\u2019s no surprise that employee turnover can be contagious.\u00a0 Once several team members have abandoned the ship, remaining employees may follow suit.<\/p>\n<h3>Turnover Impacts Employer Branding<\/h3>\n<p>A high turnover rate negatively affects the company\u2019s image.\u00a0 If employees leave due to poor compensation or lack of growth opportunities, it tells potential talent that it is not the best working environment.<\/p>\n<p><strong>The image of a satisfied worker is a good way to attract and retain talent.<\/strong> Being the company with the best job conditions and most satisfied employees generates a good brand image.<\/p>\n<p><a href=\"https:\/\/factorialhr.com\/request-demo\"><img decoding=\"async\" class=\"alignnone wp-image-119241\" src=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2023\/10\/18183354\/custom-reports-demo-banner-300x103.png\" alt=\"custom reports analytics hr software demo\" width=\"842\" height=\"289\" srcset=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2023\/10\/18183354\/custom-reports-demo-banner-300x103.png 300w, https:\/\/factorialhr.com\/wp-content\/uploads\/2023\/10\/18183354\/custom-reports-demo-banner-768x263.png 768w, https:\/\/factorialhr.com\/wp-content\/uploads\/2023\/10\/18183354\/custom-reports-demo-banner.png 900w\" sizes=\"(max-width: 842px) 100vw, 842px\" \/><\/a><br \/>\n<!-- end HubSpot Call-to-Action Code --><\/p>\n<h2><a name=\"turnover\"><\/a>High Turnover Rate Costs and Losses<\/h2>\n<p>Employees are a company\u2019s greatest asset and investment.\u00a0 For this reason, turnover costs have a significant economic impact on any company.<\/p>\n<p>Every time an employee leaves, the HR department must go through the process of <a href=\"https:\/\/factorialhr.com\/blog\/recruitment-and-selection\/\" target=\"_blank\" rel=\"noopener\">recruitment and selection<\/a> to find a replacement.<\/p>\n<p>Employee rotation is quantifiable. If you <em>compare the turnover rate to the cost of recruitment, you can see a direct correlation<\/em>.\u00a0 Hiring and training costs skyrocket when turnover is unmanageable.<\/p>\n<h2><a name=\"reduce\"><\/a>Reduce Your Turnover Rate with HR Software<\/h2>\n<p>Generally, companies have the objective of lowering their average turnover.\u00a0 In order to improve retention metrics, many decide to better manage their workforce with an <a href=\"https:\/\/factorialhr.com\/blog\/hr-dashboard\/\" target=\"_blank\" rel=\"noopener\">HR Dashboard<\/a> and <a href=\"https:\/\/factorialhr.com\/blog\/hr-report-management\/\" target=\"_blank\" rel=\"noopener\">automated HR reports<\/a>.<\/p>\n<p>In order to place people first, human resources need to be able to match numbers to faces and have a holistic view of the people in their team. With tools to create <a href=\"https:\/\/factorialhr.com\/hr-reports\" target=\"_blank\" rel=\"noopener\">HR reports and analytics<\/a>, you can generate custom HR reports in an intuitive and visual format. This tool will help you make the most out of metrics and make better decisions based on real data.<\/p>\n<h2>Calculate Turnover Rate for Free<\/h2>\n<p>Click on the banner to download our Employee Turnover Calculator. This free excel template will help you understand your employee turnover.<\/p>\n<p><span id=\"hs-cta-wrapper-5226cc3d-f5c3-413c-84db-d9858ff11f1e\" class=\"hs-cta-wrapper\"><a href=\"https:\/\/factorialhr.com\/templates\/turnover-calculator\"><img decoding=\"async\" class=\"size-full wp-image-75456 aligncenter\" src=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/07163039\/Turnover-calculator-banner-1.jpg\" alt=\"turnover-calculator\" width=\"900\" height=\"308\" srcset=\"https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/07163039\/Turnover-calculator-banner-1.jpg 900w, https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/07163039\/Turnover-calculator-banner-1-300x103.jpg 300w, https:\/\/factorialhr.com\/wp-content\/uploads\/2017\/10\/07163039\/Turnover-calculator-banner-1-768x263.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><\/span><\/p>\n<p><strong>Manage your teams more effectively with <a href=\"http:\/\/factorialhr.com\">HR software<\/a>. Get started today with a <a href=\"https:\/\/factorialhr.com\/get-started\">14-day free trial<\/a>.<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As \u201ca small leak will sink a great ship,\u201d a high turnover rate can bring down a great workforce. While turnover is a normal part of any organization, excessive talent loss can do serious damage.\u00a0 For this reason, it is important to understand how to calculate the turnover rate of your company and recognize some<a href=\"https:\/\/factorialhr.com\/blog\/causes-high-turnover-rate\/\" class=\"read-more\"> [&#8230;]<\/a><\/p>\n","protected":false},"author":136,"featured_media":112004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[348],"tags":[],"class_list":["post-953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-culture-engagement-2"],"acf":{"topics":"core-reports-kpi"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to calculate the turnover rate: A step-by-step guide - Factorial<\/title>\n<meta name=\"description\" content=\"Your go-to guide to employee turnover. 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