Retention Report

CSummers

My management team wants to see a retention report (we already do a turnover report). What information should a retention report contain and how are the calculations done?

Hunter1

I've never heard of one, but just what kind of a retentive management team do you work for? : )

mwild31

Csummers - hmmm, is your question really how do we calculate our employees retention rate and then show it on paper?

Don D

I suppose a retention report is the opposite of a turnover report. I would ask one of the managers just what type of information it is they want to see. It could be something like a seniority report by labor grade. But, who knows what they might want?

Sunny

How about measuring ratio of the number of hires in a year to the number of employees who stay or are retained? Retention is the opposite of turnover but really the measurement should be the same. I agree with Don - ask them what they want to see.

WOCO Frank

My "retention" report is actually a seniority report. I provide average seniority by job class, and by location (we have about 30 locations). While high seniority and low turnover usually go hand-in-hand, it isn't always the case. For example, I have a couple of stores that turn over the same PT weekend position month after month. Their turnover sucks, statistically, but most of the people in those stores have higher-than-average seniority.

DiBurns

There are 2 different ratios to use. One would be a 'retention' rate that is the inverse of the turnover rate (number of people who DIDN'T leave during a time frame divided by the average number of people employed during that time frame) or what I call the 'stability' rate which I calculate as the number of people employed at the end of a time frame (quarterly and annual) who were employed at the beginning of the year divided by the number of people employed at the beginning of the year.

I agree with the earlier writers: first find out what your boss wants to know - then come up with the correct calculation. I have heard the ratios I gave you above called any number of different things.

Good Luck.