Free Excel template · Excel for hr and people ops

Free headcount and turnover report template

For HR teams that report headcount and turnover each month. Enter the headcount on January 1, then each month's hires, exits and voluntary exits. The template carries the headcount forward month to month, works out the average headcount and monthly turnover, and gives you year-to-date turnover, an annualized figure and the share of exits that were voluntary.

cellwise-headcount-turnover-report.xlsxExcel workbook · 4.6 KB · works in Excel, Google Sheets, Numbers and LibreOffice · no signup

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This is the template's sheet, calculated by the same engine as the Cellwise app. Change any number to see the formulas react before you download.

	A	B	C	D	E	F	G	H
1	Headcount and turnover report
2	Year	2026
3	Headcount on Jan 1	148
4
5	Month	Start headcount	Hires	Exits	End headcount	Average headcount	Monthly turnover	Voluntary exits
6	Jan	148	4	3	149	148.5	0.020202020202	2
7	Feb	149	2	1	150	149.5	0.0066889632107	1
8	Mar	150	5	2	153	151.5	0.013201320132	2
9	Apr	153	3	4	152	152.5	0.026229508197	3
10	May	152	6	2	156	154	0.012987012987	1
11	Jun	156	4	5	155	155.5	0.032154340836	4
12	Jul	155	2	3	154	154.5	0.019417475728	2
13	Aug	154	3	2	155	154.5	0.012944983819	2
14	Sep	155	1	4	152	153.5	0.026058631922	3
15	Oct	152	3	2	153	152.5	0.013114754098	1
16	Nov	153			153	153
17	Dec	153			153	153
18
19	Months reported		10
20	Exits year to date		28

How the formulas work

Headcount carries forward

E6=B6+C6-D6

End headcount is start plus hires minus exits, and each month's start (B7 onward) is the previous month's end. You only type the January 1 headcount once, in B3. If the end of a month does not match your HRIS, look for transfers or rehires that were not logged.

Monthly turnover

G6=IF(D6="","",D6/F6)

Exits divided by the average of start and end headcount for the month. Months you have not filled in yet stay blank instead of showing 0%, so they do not look like perfect months.

Average headcount over the months reported

C21=IF(C19>0,ROUND(SUMPRODUCT((D6:D17<>"")*F6:F17)/C19,1),0)

SUMPRODUCT adds the average headcount only for months where exits have been entered, then divides by the number of those months. That way November and December do not count until you fill them in.

Year-to-date and annualized turnover

C23=IF(C19>0,C22*12/C19,0)

C22 is exits so far divided by average headcount. Ten months in, that is a ten-month figure; scaling it by 12 / months reported gives a rough full-year estimate to compare with last year. Label it as annualized so nobody mistakes it for the actual full-year number.

Make it yours

Decide up front what counts as an exit (do you include interns, contractors, internal transfers?) and write the rule next to the report.
Track voluntary exits separately, as in column H. Voluntary turnover is usually what people mean when they ask whether people are leaving.
For department-level turnover, copy the sheet once per department and add a summary tab that totals them.
Start a new copy each January and put December's end headcount in B3.

FAQ

How do I calculate employee turnover rate in Excel?

A common method is exits in the period divided by average headcount, with average headcount = (start + end) / 2. For a year, use the average of the monthly averages. Format the result as a percentage.

What is annualized turnover?

Turnover for part of a year scaled up to a full year: year-to-date turnover x 12 / months so far. It assumes the rest of the year looks like the months you have, so treat it as an estimate.

Should I count people who leave and come back?

Decide a rule and stick to it. Many teams count the exit and then the rehire as a hire, so headcount stays accurate. What matters most is calculating it the same way every month.

Functions used

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Updated November 2, 2026