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Retention by seniority clusters


Refers to the rate of employee retention breakdown by seniority clusters.




Calculation steps:

  1. choose time frame
  2. identify the number of employees working at the start of chosen time frame
  3. calculate for each employee the tenure in company (date of departure – hire date)
  4. identify the number of employees who left during the chosen time frame
  5. calculate for each employee that left the tenure in company
  6. set tenure clusters (ex: 0-1 years, 1-3 years, etc)
  7. for the employees in every category 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

  1. 40 had tenure of less than 1 year
  2. 60 had tenure between 1-3 years

Employees who left in the time frame: 10 out of which

  1. 4 had tenure of less than 1 year
  2. 6 60 had tenure between 1-3 years


Less than 1 year tenure retention rate = ((40 - 4)/40) x 100 = 90%

1 - 3 years tenure retention rate = ((60 - 6)/60) x 100 = 90%



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