What is ISO/TS 30421 about?
ISO/TS 30421 describes the elements of workforce turnover and retention and provides comparable measures for internal and external reporting.
ISO/TS 30421 also highlights issues that need to be considered when interpreting the turnover and retention data, especially when deciding on the appropriate intervention internally and when reporting this to external stakeholders (e.g., regulators, investors).
Who is ISO/TS 30421 for?
ISO/TS 30421 on HR management with turnover and retention metrics are useful for:
- HR managers
- Retention executives
- Recruitment executives
- Internal or external auditors
Why should you use ISO/TS 30421?
As well as understanding the workforce requirements of the organization and how to bring the right people into the organization to fill vacancies, it is also important that the employee resourcing team is competent in retaining an optimal mix of employees. This means ensuring that the right people don’t leave the organization and consequently create vacancies that need filling, with the impact that has on job satisfaction, economy, efficiency and effectiveness of the organization’s operations.
A central requirement in the design of ISO/TS 30421 is to provide you with a standard tool to determine crude turnover and retention with a view to further segmentation of the workforce over several years.
ISO/TS 30421 includes a description of assessments that lead to numeric results of corresponding indicators and a description of calculation methods for the quantitative metrics. The provided metrics and indicators are intended to assist you in the recruitment, line management support and workforce planning function of human resources. Included in this specification are the definition, the assembly and documentation techniques required to produce them. The aim of ISO/TS 30421 is to:
- Identify key data points required for the measurement of turnover and retention of staff
- Provide the metrics for turnover and retention to be used internally or externally to benchmark and comparison
- Highlight the contextual data required to interpret the turnover and retention so that the appropriate interventions can be explored by the organization to manage turnover and retention
ISO/TS 30421 contains a description of the internationally accepted metrics and indicators that describe the turnover rate and measures for the retention of the workforce in organizations.
Recognizing that organizations operate differently, ISO/TS 30421 allows for variance within organizations while still providing a robust methodology.
ISO/TS 30421 enables a comparison of the turnover and retention of hires between organizations, and divisions within an organization.