Calculating Turnover Rate
I currently have the following fields but not sure if this is working right , if someone can help, I appreciate it. It does not seem to calc right or I just cannot get my head around it. I only have 2 employees in this trial database and I am showing both were hired this year and one terminated . I just ran the 2 dates from 1/1/13 - 12/31/13 and it came up with 0.2 average employees, 1 terminated with a turnover rate of 439.8%. Calculating turnover rate seems confusion to me , cannot get my head around it. These are the fields I currently have and below that I am posting internet defination of calculating turnover rate. If anyone can help , I appreciate it.
Should the date fields be global?????
averageEmployeesPeriod Calculation unstored, = Average ( Calendar::countemployees)
countTerminationsPeriod Calculation unstored,= Sum ( Calendar::countTerminations )
turnover Calculation unstored, = countTerminationsPeriod / averageEmployeesPeriod
Tally up terminations and firings. To effectively calculate turnover, you should start with a total number of people who are not with the company anymore. Most businesses also involve those who voluntarily quit in their turnover numbers.
Apply the number of lost employees to a specific time frame. To calculate turnover, you will need to figure out the scope of the turnover instance at which you are looking. For example, if you can ascertain that 12 people left a business or department from January 1 of one year to January 1 of the next year, that turnover statistic will be 12 per annum
Divide your turnover number by the total staff number. In the above example, if the business has 60 employees, divide 12 by 60 to come up with the overall turnover percentage, which is 20 percent