What Metrics Should Entrepreneurs Track to Monitor Turnover?
Monitoring turnover rates and related metrics can help entrepreneurs identify trends and address issues proactively. Key metrics include:
Turnover Rate: The percentage of employees leaving the company within a specific period. Employee Satisfaction Scores: Surveys and feedback can provide insights into employee morale and satisfaction. Exit Interview Feedback: Understanding the reasons behind employee departures can inform retention strategies. Time to Fill Vacancies: The time it takes to hire new employees can indicate the efficiency of recruitment processes.