Retention and turnover KPIs are an integral measure of business performance, right up near the top with financial and customer metrics. Combine that with the fact that employees are quitting their jobs in record numbers recently, employee resignations are on everyone’s mind right now. Potential employers will be interested in hearing about your employee retention and turnover KPIs in your CxO resume.
It isn’t quite as simple as who stays and who goes. To fully use the KPIs, track reasons for leaving, including voluntary, involuntary, internal, and external separations. Average turnover rates vary by industry and job function, as well. The cost of high turnover rates can be exorbitant, deplete staff morale, and take attention away from other organizational goals. The good news is that building an empathetic corporate culture can help mitigate some of these issues.
When building your c-level resume, be sure to work in some of the following. Start with the basics.
Two C-Level Resume KPIs to Definitely Include
- Overall Retention Rate. Calculated by taking the average number of employees, subtracting the number of employees who left, and dividing the resulting number by the average number of employees again, this number tells you how many employees remained with the organization over a given time frame.
- Overall Turnover Rate. Calculated by dividing the number of employees who left the organization by the average number of employees at the organization, this number, usually measured as a percentage, tells you how many employees left the company in a given time frame.
You can even break the above 2 rates down further into voluntary and involuntary departures. Voluntary departure rates are self-explanatory; how many employees chose to leave the organization? You could take it one step further and identify internal vs. external changes. Did the employee quit, or did they accept a promotion or join a different department? Involuntary departure rates include employees laid off due to lack of work or let go for poor performance or violating corporate policy.
Other KPIs that are Important to Identify
- Employee Satisfaction Rates. Conduct surveys to gauge how happy, engaged, and productive your employees are.
- Average Length of Employment. Calculated by dividing the total number of years of service for all employees by the total number of employees, this number can allow you to dig deeper into why and when employees are leaving.
To find out how we can help showcase your exceptional retention and turnover rates in your CxO resume, book a complimentary and confidential call with us here.