Retention rate what does it mean
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Retention Rate – What Does It Mean?. The retention rate is a measure of employment duration and answers the question, “How well do workforce development participants sustain employment?”. This slide presentation addresses. definition of retention rate. and. calculation of the measure.

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Retention Rate – What Does It Mean?

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Retention rate what does it mean

Retention Rate – What Does It Mean?

The retention rate is a measure of employment duration and answers the question, “How well do workforce development participants sustain employment?”

This slide presentation addresses

definition of retention rate

and

calculation of the measure

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Retention rate the slide show

Retention Rate – The Slide Show

The presentation is approximately 4 minutes.

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Retention rate what does it mean

Retention Rate

The Definition

Retention – Percent of participants who have been employed in four continuous quarters after completing services.

The selection criteria for the retention report include two subsets.

1) Participants who completed services and got a job within six months of completing services,

and

2) Participants who remained employed for four continuous quarters.

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Retention rate what does it mean

Retention Rate – Who is counted?

All participants

Did participant complete services and get a job within six months of completing services?

Yes, “Total Exited & Placed” column

No, not included

1

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Retention rate what does it mean

Retention Rate – Total Exited & Placed

1

Participants completed services and got a job within six months of completing services.

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Retention rate what does it mean

Retention Rate – Services Completed

This is the services completion date.

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Retention rate what does it mean

Retention Rate – Who is counted?

All participants

Did participant complete services and get a job within six months of completing services?

Yes, “Total Exited & Placed” column

No, not included

1

Did participant stay employed four quarters?

No, not included

Yes, “Total Retained” column

2

2

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Retention rate what does it mean

Retention Rate – Total Retained

2

Participants were employed four continuous quarters.

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Retention rate what does it mean

Retention Rate – Denominator

Retention rate =

Records where participant had at least one hour of work during the quarter of completing services or the quarter after completing services.

Total Exited and Placed

Denominator

1

=

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Retention rate what does it mean

Retention Rate – Numerator

Records where participant had a minimum of one hour of work in each of the four quarters after the quarter of completing services.

2

Total Retained

Numerator

=

Retention rate =

Records where participant had at least one hour of work during the quarter of completing services or the quarter after completing services.

Total Exited and Placed

Denominator

1

=

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Retention rate what does it mean

Retention Rate – The Report

1

2

Retention rate

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Retention rate what does it mean

Retention Rate – An Example

Services Completed – 3Q 2002 (July 1, 2002 through September 30, 2002)

Records where participant had a minimum of one hour of work in each of the four quarters after the quarter of completing services (3Q 2002).

2

Total Retained

=

Retention rate =

All records where services were completed during 3Q 2002 and records where participant had at least one hour of work during the quarter of completing services (3Q 2002) or the quarter after completing services (4Q 2002).

Total Exited and Placed

1

=

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Retention rate what does it mean

Retention Rate – An ExampleTotal Exited & Placed

2

Total Retained

=

Retention rate =

Total Exited and Placed

1

=

3Q 2002

Did participant have one hour of work during the quarter?

If yes, count in Total Exited and Placed column

All records with a services completed date of – 3Q 2002 (July 1, 2002 through September 30, 2002) are selected.

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Retention rate what does it mean

Retention Rate – An ExampleTotal Exited & Placed

2

Total Retained

=

Retention rate =

Total Exited and Placed

1

=

3Q 2002

4Q 2002

Did participant have one hour of work during 4Q 2002?

If participant did not have one hour of work, go to next quarter.

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Retention rate what does it mean

Retention Rate – An ExampleTotal Exited & Placed

2

Total Retained

=

Retention rate =

Total Exited and Placed

1

=

3Q 2002

4Q 2002

Did participant have one hour of work during 4Q 2002?

If yes, count in Total Exited and Placed column.

If no, don’t count in Total Exited and Placed column.

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Retention rate what does it mean

Total Exited & Placed – A Review

1

The Total Exited & Placed column are participants who completed services and got a job within six months of completing services.

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Retention rate what does it mean

Retention Rate – An Example Total Retained

Now let’s look at the numerator – “Total Retained”

Services completed quarter – 3Q 2002 (July 1, 2002 through September 30, 2002)

A participant must have a minimum of one hour of work in each of the four quarters following the quarter of completing services to be counted in the Total Retained column.

Total Retained

2

=

Retention rate =

Total Exited and Placed

Services completed during 3Q 2002 and the participant had at least one hour of work during 3Q 2002 or 4Q 2002.

1

=

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Retention rate what does it mean

Retention Rate – An Example Total Retained

Services Completed – 3Q 2002 (July 1, 2002 through September 30, 2002)

Is there at least one hour of work in 4Q 2002?

No, participant has not worked four continuous quarters – not counted as retained.

2

Total Retained

=

4Q 2002

Retention rate =

Total Exited and Placed

Records with the services completed quarter of 3Q 2002 and the participant had at least one hour of work during 3Q 2002 or 4Q 2002.

1

=

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Retention rate what does it mean

Retention Rate – An Example Total Retained

Services Completed – 3Q 2002

Is there at least one hour of work in 4Q 2002?

Yes, go to next quarter.

2

Total Retained

=

1Q 2003

4Q 2002

Retention rate =

Total Exited and Placed

Records with the services completed quarter of 3Q 2002 and the participant had at least one hour of work during 3Q 2002 or 4Q 2002.

1

=

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Retention rate what does it mean

Retention Rate – An Example Total Retained

Services Completed – 3Q 2002

No, participant has not worked four continuous quarters – not counted as retained.

Is there at least one hour of work in 1Q 2003?

2

Total Retained

=

4Q 2002

1Q 2003

Retention rate =

Total Exited and Placed

Records with the services completed quarter of 3Q 2002 and the participant had at least one hour of work during 3Q 2002 or 4Q 2002.

1

=

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Retention rate what does it mean

Retention Rate – An Example Total Retained

Services Completed – 3Q 2002

Is there at least one hour of work in 1Q 2003?

Yes, go to next quarter.

2

Total Retained

=

4Q 2002

1Q 2003

2Q 2003

Retention rate =

Total Exited and Placed

Records with the services completed quarter of 3Q 2002 and the participant had at least one hour of work during 3Q 2002 or 4Q 2002.

1

=

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Retention rate what does it mean

Retention Rate – An Example Total Retained

Services Completed – 3Q 2002

No, participant has not worked four continuous quarters – not counted as retained.

Is there at least one hour of work in 2Q 2003?

2

Total Retained

=

4Q 2002

1Q 2003

2Q 2003

Retention rate =

Total Exited and Placed

Records with the services completed quarter of 3Q 2002 and the participant had at least one hour of work during 3Q 2002 or 4Q 2002.

1

=

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Retention rate what does it mean

Retention Rate – An Example Total Retained

Services Completed – 3Q 2002

Is there at least one hour of work in 2Q 2003?

Yes, go to next quarter.

2

Total Retained

=

3Q 2003

4Q 2002

1Q 2003

2Q 2003

Retention rate =

Total Exited and Placed

Records with the services completed quarter of 3Q 2002 and the participant had at least one hour of work during 3Q 2002 or 4Q 2002.

1

=

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Retention rate what does it mean

Retention Rate – An Example Total Retained

Services Completed - 3Q 2002

No, participant has not worked four continuous quarters – not counted as retained.

Is there at least one hour of work in 3Q 2003?

2

Total Retained

=

3Q 2003

4Q 2002

1Q 2003

2Q 2003

Retention rate =

Total Exited and Placed

Records with the services completed quarter of 3Q 2002 and the participant had at least one hour of work during 3Q 2002 or 4Q 2002.

1

=

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Retention rate what does it mean

Retention Rate – An Example Total Retained

Services Completed - 3Q 2002

If yes, participant has worked in all four quarters and is counted as retained.

Is there at least one hour of work in 3Q 2003?

2

Total Retained

=

3Q 2003

4Q 2002

1Q 2003

2Q 2003

Retention rate =

Total Exited and Placed

Records with the services completed quarter of 3Q 2002 and the participant had at least one hour of work during 3Q 2002 or 4Q 2002.

1

=

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Retention rate what does it mean

Total Retained – A review

2

Participants were employed four continuous quarters.

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Retention rate what does it mean

Retention Rate – Interpretation

Let’s use an actual example of the Retention Rate using the report. In this example, we will use Region 6

Services Completion date – July 1, 2002 through September 30, 2002

Total Retained

2

=

Retention rate =

1

Total Exited and Placed

=

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Retention rate what does it mean

Retention Rate – Interpretation

Services completed date

Total exited and placed

Retention rate

Total retained

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Retention rate what does it mean

Retention Rate – Interpretation

Services Completion date – July 1, 2002 through September 30, 2002

Total retained

2

1,417

=

Region 6

54.06%

=

Retention rate =

1

Total exited and placed

=

2,621

How is a retention rate of 54.06% for Region 6 interpreted?

A retention rate of 54.06% means that slightly over half of the participants completing services during July 1, 2002 through September 30, 2002 remained employed for four continuous quarters following the quarter after completing services.

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Retention rate what does it mean

This concludes the slide show. Questions may be directed to:

John Glen

503-947-1234

[email protected]

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