Staff Retention Rate Sample Clauses

Staff Retention Rate. This is a far more positive expression than a staff turnover rate. This is a simple measure which is focused on the care worker work force alone and expresses the ability of the industry to retain staff, not necessarily the provider given that the nature of the workforce, irrespective of the rate of pay, has a high transient component. All providers should be able to easily track the supporting data. It is based on numbers of staff, not FTEs or staff hours worked, as the amount of resource involved in recruiting staff does not differ between full time and part time staff. The process is the same. The result is an expression of the stability of the workforce for any particular providers, which can be aggregated for region. Number of care workers at start of reporting period Minus number of care worker resignations during the period Equals the number of care workers retained during the period Number of care workers retained during the period Divided by the number of care workers at start of reporting period Multiplies by 100 Equals % Care worker retention rate Add the number of new workers recruited to the number retained to give the total number of workers employed at the end of the period (this will give the starting total for the next reporting period) Reporting Period Total workers start of period Resignations Retention % New employees Total workers at end of period Q1 Q2 Q3 Q4