When we think of HR, the first thing that comes to mind is usually about people: hiring, training, engaging, and caring for employees. But modern HR is more than just human connection; it’s also about data. Behind every decision about hiring, promotions, or employee well-being lies a set of numbers that reveal the real health of your workforce.
Imagine this: a small F&B business in Singapore notices staff leaving every few months, while a logistics startup struggles with frequent sick-day absences. Both owners feel the pinch, higher recruitment costs, lower productivity, and extra stress on the remaining team. The truth is, without the right HR metrics, it’s almost impossible to see where the real problems lie.
That’s why HR professionals in Singapore are increasingly turning to HR formulas. They’re not just calculations on a spreadsheet, they’re powerful tools that give you clarity. With the right numbers, you can spot trends, improve retention, reduce costs, and make smarter, faster decisions.
So if you’re building or growing a business in Singapore, here are seven essential HR formulas you should start tracking today, explained in simple terms, with practical insights you can apply right away.
7 Essential HR Formulas
Now let’s breakdown seven HR formulas every Singapore company should track and why they matter.
Absenteeism Rate
Absenteeism Rate = (Total Absence Days ÷ Total Available Workdays) × 100
This measures how often employees are absent. If your absenteeism rate is high, it could mean low morale, poor engagement, or even health and safety issues at the workplace.
Singapore example: Many SMEs track absenteeism closely because prolonged absence can disrupt projects, especially in smaller teams. Introducing wellness programs or flexible work arrangements can help bring the rate down.
Turnover Rate
Turnover Rate = (Employees Who Left ÷ Average Number of Employees) × 100
This tells you how many employees leave your company in a given period.
Why it matters: In Singapore’s competitive job market, high attrition can mean higher costs for hiring and training, plus knowledge gaps in your workforce. Keeping this number under control saves money and protects productivity.
Employee Retention
Employee Retention Rate = (Number of Employees at End of Period ÷ Number of Employees at Start of Period) × 100
The opposite of turnover, this shows how many employees stay with you.
Why it matters: High retention means your team is happy, engaged, and motivated to grow with you. It’s also something MOM encourages, as strong employee loyalty leads to a more sustainable workforce.
Internal Promotion Rate
Internal Promotion Rate = (Total Number of Promotions ÷ Total Positions Filled) × 100
This tracks how often you fill positions by promoting existing staff instead of hiring externally.
Why it matters: Employees in Singapore value career progression. A high internal promotion rate signals growth opportunities, making your company more attractive to ambitious talent.
Cost Per Hire
Cost per Hire = (Total Recruitment Costs ÷ Number of Hires)
This shows how much it costs to bring one new employee onboard — from job ads to recruiter fees and training.
Why it matters: Recruitment is expensive. By tracking cost per hire, Singapore businesses can balance between hiring quality talent and keeping budgets under control.
Time to Hire
Time to Hire = Date of Offer – Date Candidate Applied
This measures how long it takes to fill a vacancy.
Why it matters: In Singapore, where talent moves fast, long hiring processes can cause you to lose good candidates to competitors. Streamlining this process improves both efficiency and candidate experience.
Offer Acceptance Rate
Offer Acceptance Rate = (Offers Accepted ÷ Offers Made) × 100
This tracks how many candidates accept your job offers.
Why it matters: If acceptance rates are low, something’s off — maybe your salary packages aren’t competitive, or your employer brand needs work. Improving this helps you secure top talent more consistently.
Conclusion
Choosing the right HR formulas to track is like choosing the right KPIs for your business, they shine a light on what’s working, what needs attention, and where your people strategy can grow stronger. In Singapore, where every hire counts and compliance is non-negotiable, these numbers aren’t just “nice to have”, they’re essential for building a resilient, future-ready workforce.
But here’s the truth: manually crunching these figures on spreadsheets is time-consuming and prone to error. The smarter path is to let technology do the heavy lifting, so HR can focus on strategy, not data entry.
That’s where HRMLabs makes a difference.
- Flexibility – Tailored to fit your unique business needs
- Scalability – Designed to grow alongside your company
- Regional Presence – Supporting businesses across Southeast Asia
- Human Touch – Real customer support from real people who understand HR challenges
With HRMLabs, tracking these HR metrics becomes effortless. You’ll save hours, avoid compliance headaches, and gain the insights you need to make decisions with confidence while freeing your team to focus on what really matters: growing your business and supporting your people.
Ready to move beyond spreadsheets and simplify HR? Discover how HRMLabs can help today!
