How do we calculate the rate of attrition for a amonth and also the rate of attrition for a year. Came across a formula for the calculation of rate of monthly attrition which says
Monthly attrition rate= {No. of seperations for the month/(Opening headcount for the month + Closing headcount for the month)/2}*12*100.
Need to know whether this formula is correct or not and if it is then plz explain it. And if it is not, plz give the appropriate formula.