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Dear Sir,
Could you help me with the following:
At the start of the year a company employed 2000 employees.
During the year 400 employees left the company.
At the end of the year there were 2200 employed.My calculations are:
Replacements: 600
turnover rate = 600/((2200+2000)/2) x 100 = 28.57%Bu the correct answer is 19%.. Where am I doing a mistake?
Thank you!
Since the number of employees at the end of the year was more than it was at the beginning, then it means that all 400 who left must have been replaced. (Even more were then employed, but that it not relevant – we are after the number replaced).
The average number of employees is 2100 (as you have written in your workings)
So the turnover ratio is 400/2100 = 19.05%
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