New Starter Turnover Rate
This is a metric which can be used to understand employee retention in the first year. Employee retention is an important factor in human resource management as the cost of recruitment can be high and frequent staff changes are disruptive.
The new starter turnover rate is calculated as the number of new starters who left in the period divided by the number of new starters at the beginning of the period.
The formula used in the calculation is:
New Starter Turnover Rate = New Starters Leaving in Period / New Starter at Start of Period