{"id":6532,"date":"2020-08-31T17:05:15","date_gmt":"2020-08-31T10:05:15","guid":{"rendered":"https:\/\/bellbell24vietnam.vn\/?p=6532"},"modified":"2020-08-31T17:05:15","modified_gmt":"2020-08-31T10:05:15","slug":"turnover-rate","status":"publish","type":"post","link":"https:\/\/bell24vietnam.vn\/en\/van-hanh\/turnover-rate\/","title":{"rendered":"WHAT IS A GOOD TURNOVER RATE? HOW TO CALCULATE &amp; IMPROVE IT"},"content":{"rendered":"<h2 style=\"text-align: justify;\"><span style=\"font-size: 20pt; color: #2e5d95;\"><strong>What is turnover rate?<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\"><strong>Turnover rate:<\/strong>\u00a0Employee turnover rate in a given period of time (Month\/Quarter\/Year). This index is calculated based on the number of employees who quit their jobs over the average number of employees in the same period.<\/span><\/p>\n<p><img decoding=\"async\" style=\"display: block; margin-left: auto; margin-right: auto;\" src=\"https:\/\/file.hstatic.net\/1000400311\/file\/turnover-rate_14400fa3faa24be694fee6187191cb61.jpg\" alt=\"turnover rate\" \/><\/p>\n<h2 style=\"text-align: justify;\"><span style=\"font-size: 20pt; color: #2e5d95;\"><strong>What impact does Turnover rate have on business?<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">In general, most businesses want to minimize employee turnover, which means a low Turnover rate. But in many cases, a low or zero turnover rate is not enough for a business to assess its performance and human resource policies. Sometimes it is like your body is sick without you knowing it. However, every result has two sides:\u00a0<strong>benefits and losses<\/strong>i.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span style=\"font-size: 12pt;\"><strong><span style=\"color: #000000;\">Benefit:<\/span><\/strong><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Eliminate incompetent and bad-attitude staff.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Opportunity to get creative ideas from new hires.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Ensure salary fund<\/span><\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span style=\"font-size: 12pt;\"><strong><span style=\"color: #000000;\">Damages:<\/span><\/strong><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Shortage of staff affects processes and operational performance.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Reduced work quality because new staff are unskilled and need time to adapt.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">It costs time and resources to recruit and train new employees.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Cost of recruiting new staff.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Affecting the psychology of other employees, easily leading to mass resignation due to crowd psychology.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span style=\"font-size: 20pt; color: #2e5d95;\"><strong>What is a good Turnover rate?<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\"><strong>There is no mandatory standard<\/strong>\u00a0Or what statistics prove that what is a good turnover rate, it depends on the business&#039;s performance and the specific industry\/field of operation.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Turnover rates tend to be low in low-stress (leisurely) jobs, and high in high-stress jobs (such as KPI-driven sales jobs). This is especially true for businesses operating in the\u00a0<strong><span style=\"color: #b9284e;\"><a style=\"color: #b9284e;\" href=\"https:\/\/bell24vietnam.vn\/en\/bpo-industry-news\/bpo-la-gi\/\">BPO Services<\/a><\/span><\/strong>\u00a0(Business process outsourcing) this rate is often quite high compared to the general level.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">According to the survey, most businesses choose the ratio\u00a0<strong>Turnover rate ranges from 5-10%<\/strong>\u00a0is ideal.<\/span><\/p>\n<h3 style=\"text-align: center;\"><span style=\"font-size: 15pt; color: #b9284e;\"><strong>Formula for calculating turnover rate.<\/strong><\/span><\/h3>\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><em><span style=\"font-weight: 400; color: #000000;\"><strong>Monthly turnover rate =<\/strong>\u00a0[L\/Avg] x 100<\/span><\/em><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 12pt;\"><strong><span style=\"color: #000000;\">In there:<\/span><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">L (Left): Number of employees quitting in the month<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">B (Beginning): Number of employees working at the beginning of the month.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">E (End): Number of employees working at the end of the month<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Avg (Average): average number of employees in the month = (B + E)\/2<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\"><strong>For example:<\/strong>\u00a0Your company had 100 employees on February 1, 2020. During this time, 20 employees left, and the company hired 30 new employees. What is the turnover rate?<\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Calculate Avg = (100 + 110) = 105<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Calculate the turnover rate = [20\/105] x 100 = 19.04%<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">=&gt; So the company&#039;s unemployment rate in February is\u00a0<strong>19.04%<\/strong>.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span style=\"font-size: 20pt; color: #2e5d95;\"><strong>Methods to reduce turnover rate.<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Appropriate and timely adjustments are the &quot;salvation&quot; solutions for many businesses when facing the risk of high employee turnover rates. Here are some methods that can be applied to improve this situation.<\/span><\/p>\n<h3><span style=\"font-size: 12pt;\"><strong><span style=\"color: #000000;\">1. Review and improve welfare policies.<\/span><\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Conduct a review of the company&#039;s welfare mechanisms for gaps using research methods based on thinking and employee opinion surveys. Analyze and propose welfare policy solutions that are suitable for human resource needs within permitted conditions.<\/span><\/p>\n<h3><span style=\"font-size: 12pt;\"><strong><span style=\"color: #000000;\">2. Create competition and training programs.<\/span><\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Offer competitive programs related to work, helping employees have more motivation to strive and opportunities to improve their income.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">Develop training programs to improve the qualifications\/skills of employees, taking place throughout their working process at the company. Help employees see the company as a place worth working and studying.<\/span><\/p>\n<h3><span style=\"font-size: 12pt;\"><strong><span style=\"color: #000000;\">3. Develop and implement internal cultural communication programs.<\/span><\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; font-size: 12pt; color: #000000;\">This is one of the most important activities that most businesses in Vietnam are not paying attention to. Investing in internal communications is investing in developing and promoting corporate culture, connecting employees in a sustainable and long-term way. This activity requires perseverance and long-term but brings about expected results with much lower investment costs than other improvement options. These activities give employees confidence in the brand they are attached to, help them have more motivation and excitement in their work, and help each individual in the company get closer together. This brings about extremely effective employee retention.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 15pt;\"><strong><span style=\"color: #000000;\">Bellsystem24-Vietnam<\/span><\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 15pt;\"><strong><span style=\"color: #000000;\">Leading Contact Center and BPO solution provider in Vietnam.<\/span><\/strong><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>Turnover rate l\u00e0 g\u00ec? Turnover rate:\u00a0T\u1ef7 l\u1ec7 ngh\u1ec9 vi\u1ec7c c\u1ee7a nh\u00e2n s\u1ef1 trong m\u1ed9t kho\u1ea3ng th\u1eddi gian nh\u1ea5t \u0111\u1ecbnh (Th\u00e1ng\/Qu\u00fd\/N\u0103m). [&hellip;]<\/p>","protected":false},"author":1,"featured_media":6533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[17],"tags":[92],"class_list":["post-6532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-van-hanh","tag-van-hanh"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>T\u1ef6 L\u1ec6 NGH\u1ec8 VI\u1ec6C TURNOVER RATE BAO NHI\u00caU LA\u0300 T\u00d4\u0301T? 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