What is turnover rate in SAP EPM-NOV-SWP - Percipient?

SAP Term: turnover rate

• Component: EPM-NOV-SWP

• Component Name: Percipient

• Description: Rate at which an organization loses workforce.

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• Key Concepts: 
  Turnover rate is a metric used to measure the rate at which employees leave an organization. It is calculated by dividing the number of employees who left the organization in a given period of time by the average number of employees during that period. The turnover rate for a particular organization can be used to measure the effectiveness of its recruitment and retention strategies. 
  
  How to use it: 
  The turnover rate can be used to measure the effectiveness of an organization's recruitment and retention strategies. It can also be used to identify areas where improvements can be made in order to reduce employee turnover. Additionally, it can be used to compare the turnover rate of different organizations in order to identify best practices. 
  
  Tips & Tricks: 
  When calculating the turnover rate, it is important to consider factors such as the length of time an employee has been with the organization, their job role, and any other relevant factors that may affect their decision to leave. Additionally, it is important to consider external factors such as economic conditions and industry trends when analyzing turnover rates. 
  
  Related Information: 
  The EPM-NOV-SWP Percipient component is a software solution designed to help organizations manage their employee turnover rate. It provides insights into employee turnover trends, enabling organizations to identify areas where improvements can be made in order to reduce employee turnover. Additionally, it provides tools for analyzing employee data in order to identify best practices for recruitment and retention.