Use this Online Promotion Rate Calculator to get the desired metric in just a few clicks or download a free template in Excel.
| Promotion Rate Calculator | |
|---|---|
| No. of Promotions | |
| No. of Employees Eligible for Promotions | |
| Promotion Rate : | % |
Promotion Rate Calculator is an excel template to calculate the percentage of promotion taking place in a company during a specific period of time. By just entering 2 fields you can calculate the promotion rate for your company.
Before we move forward, let us understand the term Promotion and Promotion rate.
What is Promotion?
Purpose of Promotions
- It helps the managers to recognize employee commitment to the company and his performance.
- It encourages the employee to perform well.
- A competitive spirit employee is necessary. Promotions help to ignite the fire.
- Provides the employee a sense of job satisfaction where he is valued for the work done and makes them loyal and sincere to the company.
What is Promotion Rate?
The promotion rate is the percentage of promotion taking place in a company during a specific period of time against the total employees that are eligible for the promotion.
In other words, it is the average rate at which employees are promoted in an organization. A higher rate of promotion puts the company into good books.
Formula To Calculate Promotion Rate
The promotion rate can be calculated in two ways:
- Against the Eligible Promotions
- Against the total HeadCount
Formula To Calculate Promotion Rate Against Eligible Promotions
Formula To Calculate Promotion Rate Against Eligible Promotions
Promotion Rate Calculator Excel Template
To simplify the process and help you get both types of promotion rates together, we have created a simple and easy Promotion Rate Calculator Excel Template with predefined formulas.
You just need to enter very few details and it will calculate the promotion rate for you.
Click here to download Promotion Rate Calculator Excel Template.
Click here to Download All HR Metrics Excel Templates for ₹299.You can download other useful HR Metrics Templates like Retention Rate Calculator, New Hire Turnover Rate Calculator, Job Vacancy Rate Calculator Offer Acceptance Rate Calculator, and many more from our website.
Let us understand how to use this Calculator in detail.
How to use the Promotion Rate Calculator?
There are 2 sections:
- Promotion Rate (General)
- Promotion Rate Department Wise
1. Promotion Rate (General)
As discussed above, the promotion rate has been calculated in both ways; against eligible promotions and also against total headcount.
On the left side, you need to enter 2 details; No. of Promotions and No. of Employees Eligible for Promotions. This will give you the promotion rate against eligible promotions.
On the right side, you need to enter 2 details; No. of Promotions and the total headcount. Thus, it will give you the promotion rate against total headcount.
2. Promotion Rate Department Wise
This section can be useful when the company has a higher number of employees and different departments. Enter the following 3 details for each department:
No. of Promotions
No. Of Eligible Employees for Promotion
Total Headcount
This will calculate the promotion rate for each department and also the total promotion rate for the company.
In addition to the above, you can also download Excel templates in other categories like HR and Payroll, Financial Analysis, Financial Statements, etc
We thank our readers for liking, sharing, and following us on different social media platforms.
If you have any queries or suggestions please share in the comment section below. I will be more than happy to assist you.
Leave a Reply