Understand why people leave, inform your strategy, and reduce churn with your attrition data.
Data informs actions. Whether you know where to start or not, follow the patterns across your recent terminations to uncover areas of opportunity and growth with our Attrition analytics.
Overview of Attrition Analytics
At a high level, our Attrition analytics will tell you three things:
- Who left the company
- When and why they left
- Metrics, like Annualized Attrition, to measure the potential impact
Creating an Attrition Report
- Log into Knoetic and go to Attrition analytics
- Select your Time Period. Choose "On" for a specific date and "Between" for a custom range
- Apply filters to hone in on a segment of employees you want to view
- Choose a value for your X-axis. This will become the header of your chart's data table
- Add a Data Group to segment your results by another value
- Pick a chart format from a line, bar, or pie chart
- Title, export, save or share your report when it's ready!
A list of terminated employees from your selected time period will be listed below your chart. You can click "See all terminated employees" if you'd like to review the full list.
Your Attrition Stats
Below your chart will be a data table that includes important metrics, like Termination Count and Annualized Attrition. The column headers represent values from your assigned X-axis.
Hover over any underlined term or number for additional detail into our calculations and formulas.
- Termination count is the number of employees who had termination events in the given period.
- Average headcount is calculated by dividing the sum of the starting and ending headcount in the given period by two.
- Attrition is the percentage of your workforce that left during the given period. This is computed by dividing the termination count by the average headcount for that period.
For example, in the Q1 2022 time period, you had a termination count of 3 and an average headcount of 241. Thus, your attrition during this time was --> 3 ÷ 241 = 1.2%
- Annualized attrition is the percentage of your workforce that left during the given period, converted to an annualized number.
For example, in the Q1 2022 time period, your attrition was 1.2%. This attrition occurred over 90 days. To get your annualized attrition, this number is converted to the equivalent value for a 365-day year.
Follow the Scent: Tips for Uncovering Trends
Sometimes, it's hard to know where to start when you're looking for trends. Here's an example of how to follow signal:
- Start at a high level—a general attrition report with no filters, but add a Data Group (e.g. Department)
- Review which department had the highest turnover in your time period
- Apply a filter for the department to narrow your focus
- Begin applying additional values (like Termination Reason, Termination Type, or Manager) to look for any glaring trends across your data set.
- Perhaps you notice that 80% of the team left voluntarily, or on their own.
--> Were there any recent changes on the team (e.g. new manager)? How engaged is this team generally? How have they been performing? Did an influential colleague leave?
- Take it a step further—click through a data point on your chart to review a list of employees or venture down to an employee profile.
--> Was this employee a high performer? Were they given opportunities for career growth?
- Continue to ask questions and evolve your thinking until you get to a compelling hypothesis. Share your findings with leaders who can fill in the gaps to complete the story.
Pro-Tip: Common Attrition Fields
During exit interviews, teams will often gather data about why an employee is leaving. These data points are collected to later review trends across the company's termination data.
- Termination Type (or Term Type) tells you if the employee leave was their own initiative. There are typically two values: Voluntary and Involuntary.
- Voluntary attrition occurs when an employee leaves of their own volition.
- Involuntary attrition occurs when a company dismisses an employee.
- Regretfulness is a value for whether the company regrets an employee's departure.
- Regrettable attrition means that the company wishes the employee had not left.
- Non-Regrettable attrition means that the company does not regret the departure.
- Termination Reason is a coded or text response to the reason why the employee left. It tells a story around why employee attrition is trending overall and if there are areas for improvement within the company.
- Rehire Eligibility is usually a Yes or No value that signifies if the employee can be rehired at a later date.
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