Interactive Calculator: The Cost of Employee Turnover

In this week’s post, we provide you with an interactive calculator that can be used to add up just how much it costs when an employee leaves an organization. Even this long list of possible costs is not comprehensive, but the numbers are dramatic nevertheless.

Note: The default numbers included are just there to give everyone a sense of how it works. Feel free to enter your own numbers and see the results. If a certain cost doesn’t apply to you, just enter “0” or leave it blank.

Enjoy!

 

  • Basic Information: Time
  • Basic Information: Salary
  • Pre-Departure: These are the hours/week in lost productivity before the employee leaves. The amount can be as high as 50-75% of total hours for the employee, and it can be assumed that coworkers and the manager/supervisor combined will need to make up that difference.
  • During the Vacancy: These are the hours/week that coworkers and the manager/supervisor combined will need to make up for the vacant employee (overtime, added shifts, etc.).
  • Orientation and Training: These are the number of hours in lost productivity resulting from orientation and training of a new employee.
  • Administrative and Hiring Tasks
  • Additional Hiring Costs
  • ...Add It Up
  • That was just the cost for one employee. How much does employee turnover cost an entire organization?

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