I'd say yes. There's a lot to be said for a good work environment. Happy employees won't want to leave, even for a modest pay raise. However, I wouldn't just take the interviewers word for it. Do a bit of research and, if you can, talk to some current or former employees about their experiences there. More on reddit.com

Analytics Manager - HR here. Yes, there is a lot of contradictory information out - it is not you. This leads to one of my biggest frustrations with leaders who pull random shit and try to use it as a benchmark :) You will often times see retention rate mixed up with turnover, often because HR departments like the sound of retention and see it as a positive - so a lot of the retention rates you see are weird inverse but not quite accurate turnover statistics. So what is retention? Basic premise: On january 1, 2022, you had 100 employees. Today, OF THOSE ORIGINAL 100, you have 80. Your YTD retention is therefore 80/100. Unlike turnover, you do not factor anyone that joined during that period of time. As an equation: Retention = Number of employees active at the end of your period that were also employed at the start of the period/Number of employees at the start of the period. So the max retention rate is 100%. Another piece to note is that we are talking about headcount, not FTE (another common mistake). So what is this about a period? Retention can be calculated for any period you want really, don't know why you would want to, but you could technically calculate a 1 day retention or a 50 year retention. So using the above formula, you just plug your end and start dates. First year retention/new hire retention. This is a common one. First year retention looks only at those employees with less than one year from the hire date. So basically just filter your population, same formula/concept. To clearly answer this: I am seeing contradicting information online from new hires should be counted to no, new hires should not be counted - what is the right way to measure this? If your start period is Jan 1, 2022 and end period is Dec 31, 2022, no one hired starting on or after Jan 2, 2022 is counted. Anyone including hires in their formula is doing some weird turnover hybrid. Turnover is calculated by: Number of terminations/(avg of headcount in the period) Which means that if you started with 100, hired 10, no one termed, your denominator would be 105, so new hired would count. Here is how you get over 100% You start with 100, hire 200, but 250 people leave. Your calculation becomes: 250 terms/(100 starting - 50 ending) = 250/50 or 500% turnover. Assuming all 50 of the ending were also part of your starting group, your retention would be 50%. If only 25 of those 50 were part of the original 100, then your retention would be 25% More on reddit.com

The specific retention rate that is considered "good" will depend on the industry and the type of business, but generally speaking, a high retention rate is desirable. For example, for businesses with a subscription-based model, a retention rate of around 80% or higher is considered good. This means that out of 100 customers, 80 are still actively using the product or service after a given period of time. However, for businesses with a different model or in different industry, the benchmark might differ. A business that has a high churn rate (customers leaving) would want to improve their retention rate. For example, in e-commerce the industry average is around 65-70% retention rate, while in the mobile app industry, the benchmark is around 40-50%. It's important to keep in mind that retention rate should be in comparison with industry benchmarks and also with your own previous retention rate (if you have historical data). Also, you can use different retention rate metric depending on the specific area of your business that you want to improve. Overall, a high retention rate is a sign of a healthy and sustainable business, as it means that customers are satisfied and continue to use the product or service. To satisfy customers, you'll need to regularly conduct market research on them. When it comes to research, please note, I'm a vendor, so I'm rather biased about my own product, and will say that online market research is the way to go to keep any business in the know of its customers. I doubt you have the time and energy to conduct in-person interviews or send out paper surveys. In today's day and age, you can quickly learn about your markets with online market research. For context: Pollfish is a mobile survey platform that allows businesses and researchers to collect data from a panel of participants via their smartphones. It can be used to conduct surveys on a variety of topics and to reach a wide range of demographics. One of the benefits of using Pollfish is that it allows you to reach a large, diverse panel of participants quickly and easily. Additionally, because the surveys are completed on mobile devices, they can be easily taken on the go, which can increase response rates. Feel free to check us out. More on reddit.com

Let's say full staff in your store is 10 people. By the end of the year you have hired 15 people and they have been fired, quit, or transferred to other jobs so you've needed to replace them. You have had turnover of 150%. More on reddit.com