Employees at the start of the period

Of those, how many left during the period

Only people who were already on the payroll on day one of the period. This is the number the retention formula is built on.

People hired during the period

Of those new hires, how many left again

Joined and left inside the same period. These people never touch the retention rate, but they do move your turnover rate.

Employee retention rate

92%

(100 − 8) ÷ 100 × 100: the share of the people you started with who were still there at the end

Turnover rate

11.5%

all 12 separations ÷ average headcount (104) × 100

Retention + turnover

103.5%

not 100%, and it is not meant to be: retention looks at the starting group, turnover counts every leaver against average headcount

New-hire retention rate

80%

how many of the people you hired this period were still there at the end. Headcount at the end of the period: 108