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Annualize function

  1. #1
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    Annualize function

    I see a formula that our Human Resources Department is using to annualize voluntary turnover.

    It looks like this:

    =(E3/((A3+D3)/2))*12/months

    So if I substitute with some actual data:

    =(6/((22+33)/2))*12/months the answer becomes 21.8% (as the annualized voluntary turnover rate).

    What does the *12/months actually do mathematically? I cannot find it in the excel help files and have not been able to figure this out using math (on the calculator).

  2. #2
    Forum Guru shg's Avatar
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    Re: Annualize function

    months is a defined name. Do insert > Name > Define to see what it is.
    Entia non sunt multiplicanda sine necessitate

  3. #3
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    Re: Annualize function

    Where do I insert? Do I go anywhere on the page and type insert > months > define or do I put it in the formula (and with the spaces)? I've tried various combination's to no avail.

  4. #4
    Forum Guru shg's Avatar
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    Re: Annualize function

    It would be helpful if you added the version of Excel that you use to your profile.

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