Workforce Vacancy Rate
What it measures: Percentage of Full Time Equivalent (FTE) vacancies for all labour classes.
Definition, Full Time Equivalent: Refers to the number of hours considered full-time by the employer. For instance, if the employer considers 40 hours full time, and there are two employees working 20 hours per week, those two employees equal 1.0 FTE (0.5 FTE + 0.5 FTE). It considers an employee's scheduled weekly hours divided by the employer's established weekly hours for a full-time work week.
Why it's important: Evaluating vacancy levels will indicate the performance of workforce recruitment and retention programs, as well as identify areas of opportunity to focus efforts. A lower vacancy rate is desired.
How it's calculated: The number of active FTE vacant divided by the total active FTE
Frequency of Reporting: Quarterly
12-Month Performance Trend
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