Key people retention
Refers to the rate of employee retention for key people.
Calculation steps:
- choose time frame
- identify the number of employees working at the start of chosen time frame
- correlate each employee with a category: key person or non key person
- identify the number of employees who left during the chosen time frame
- correlate each employee with a category: key person or non key person
- for the employees in the category of key person apply the retention rate formula
Example:
Time frame: 1st of January to 31st of March
Employees working at the start of the time frame: 100 out of which
- 40 are on key person
- 60 are on non key person
Employees who left in the time frame: 10 out of which
- 4 are on key person
- 6 are on non key person
Key person retention rate = ((40 - 4)/40) x 100 = 90%
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