Employee Experience ROI
The ROI of an Effective Employee Experience Platform.
Cost of Employee Turnover Calculator
How many people are on your team?
Employees
What is their average salary?
$
000
What is your rate of attrition?
% of employees
What does it cost to find new talent?
percent of salary
What is your year-over-year growth?
%
Advanced Calculations
Annual Cost of Employee Turnover
$1,500,000.00With a Powerful Recognition
Program Like HR Cloud®,
You Could Save As Much As
Find out how HR Cloud® can help you engage and motivate your team
Cost of Employee Turnover Calculator
By HR Cloud®
- Employees: 1000
- Average salary: $50000
- Rate of attrition: 10% of employees
- Cost of finding new talent: 15percent of salary
- Year-over-year growth: 10%
Annual Cost of Employee Turnover:
$1,500,000.00With a Powerful Recognition Program Like HR Cloud®,
You Could Save As Much As:
$465,000.00
Why Does Employee Turnover Cost So Much?
There are both direct and indirection employee turnover costs to consider. Direct employee offboarding and exit costs include payouts for severance pay, accrued sick time and vacation time, ongoing contributions to health insurance, and potentially higher taxes for unemployment.
Indirect exit costs include opportunity costs for the period of time when you have an unfilled role at your organization, reduced productivity as the departed employee's responsibilities may be fulfilled by someone lacking the same expertise, organizational time spent recruiting and interviewing for a new hire, institutional knowledge loss, and potentially lower overall employee morale.
When you factor in both the direct and indirect costs, the fully loaded employee turnover cost is much higher than what meets the eye.
