Understanding the true cost of employee turnover is crucial for any business. Our Employee Turnover Cost Calculator helps you estimate direct and indirect expenses, from recruitment and onboarding to lost productivity. Use this tool to make informed decisions and improve your talent retention strategies.
Formula:
Total Turnover Cost = Nleft * (Csep + Crec + Conboard + (Sannual / 52 * Tprod))
Where:
- Nleft = Number of Employees Who Left Annually
- Csep = Average Separation Costs Per Employee
- Crec = Average Recruitment Costs Per Employee
- Conboard = Average Onboarding & Training Costs Per New Employee
- Sannual = Average Annual Salary of Departing Employees
- Tprod = Average Lost Productivity Time (Weeks)