Sample interview questions: How would you approach analyzing employee turnover and retention rates?
Sample answer:
Analyzing Employee Turnover and Retention Rates
-
Collect and Clean Data: Gather relevant data from multiple sources, such as HRIS systems, performance reviews, and exit interviews. Clean and organize the data to ensure accuracy and consistency.
-
Calculate Turnover and Retention Rates: Calculate turnover rate by dividing the number of separations by the average number of employees during a specific period. Retention rate is calculated by subtracting turnover rate from 100%.
-
Identify Trends and Patterns: Analyze the data over time to identify trends and patterns in turnover and retention. Determine which departments, job roles, or demographic groups are most affected.
-
Conduct Exit Interviews: Interview departing employees to gather insights into reasons for leaving and potential areas for improvement in retention strategies.
-
Analyze Performance Reviews: Review employee performance ratings and identify any correlations between performance and turnover or retention.
-
Consider External Factors: Examine factors outside the organization that may influence turnover, such as economic conditions, industry trends, and job market competition. Read full answer