Fifty employees of GlowFax Inc. quit the company this year. Thirty-five of the employees left by choice, while the rest were asked to leave either because of poor performance or high absenteeism. The total number of employees in the company was 270 in January. The midyear employee count was 250, and the number became 220 at the end of the year. What is GlowFax's turnover rate for this year

Question

Kasey Barnes

Business

23 May, 07:53

Fifty employees of GlowFax Inc. quit the company this year. Thirty-five of the employees left by choice, while the rest were asked to leave either because of poor performance or high absenteeism. The total number of employees in the company was 270 in January. The midyear employee count was 250, and the number became 220 at the end of the year. What is GlowFax's turnover rate for this year

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Ozzie · Answer 1

=20%

Explanation:

Employee turnover rate refers to the percentage of workers who leave a company at a particular financial period. It is a percentage representation of employees who separate from a company in a period.

The formula for employee turnover rate is

Turnover = employee separated

The average number of employee

the average number of employees equal to = beginning employee + endings employees/2

For Glofax Average number of employees = (270 + 220) / 2

=490/2

=245

Employee turnover = 50/245 x 100

=20.4 %

=20%