Turnover Costs Calculator

Employee Turnover Costs Calculator

How much does it cost when you have to replace an employee? This Employee Turnover Costs Calculator will help give you a better idea of the overall cost of employee turnover.


Employee Salary and Benefits
Enter your average annual employee salary: To calculate the cost impact of a specific job, enter data for that job only.	$
Enter your employee's annual payroll tax and benefit costs as a percentage of the annual salary: If unsure, use estimate of 25%	%
Number of Employees
Enter the number of employees for whom to calculate costs:
Turnover
Approximate annual employee turnover percentage:	%

Employee Learning Curve
To calculate your employee learning curve costs, choose the
learning curve that best describes your situation:

	Quick. New employee has: Month 1: 25% productivity Month 2: 50% productivity Month 3: 75% productivity Month 4+: 100% productivity
	Average. New employee has: Months 1-3: 25% productivity Months 4-5: 50% productivity Months 6-8: 75% productivity Months 9+: 100% productivity
	Lengthy. New employee has: Months 1-4: 25% productivity Months 5-8: 50% productivity Months 9-12: 75% productivity Months 13+: 100% productivity

Employee Training
Enter the number of hours of formal training each new employee receives:
Enter the per hour cost of trainer's time:	$

Recruiting Costs
Enter the estimated cost of recruiting: Or calculate recruiting costs using the Recruiting Costs Calculator.	$

Signing Bonuses
If you pay employee signing bonuses, enter the amount:	$

Other Costs
Enter the average number of weeks it takes to fill a job opening: This period is measured from the date your search starts until the employee's start date.
Enter the average number of candidates you screen:
Enter the hourly cost of your time:	$

Annual Profit
Enter your approximate annual profit:	$

Your Turnover Costs:
Annual average employee compensation and benefit expense: The average cost of each employee, including salary, payroll taxes and benefits.	$
New employee learning curve costs: The approximate cost of lost productivity while a new employee learns the job.	$
Training costs: The cost of training a new employee, including trainer's time.	$
Recruiting costs: The total cost of advertisements, recruiters, employee referral fees, etc.	$
Candidate selection and interview costs: Based on 2.5 hours of preparation, interviewing and screening time per candidate.	$
Signing bonus: Amount paid for new employee signing bonus, if any.	$
Substitute employee cost: The cost of a substitute employee, or the equivalent in extra hours for other employees, during the candidate search.	$
Total employee turnover cost per job filled: Your total annual employee turnover expense, based on your estimated turnover rate.	$
Percentage of annual salary: The total cost of replacing employees as a percentage of their annual salary.	%


Your Total Annual Turnover Costs
Total annual turnover expenses:	$
Employee turnover expense as a percentage of your annual profit:	%
Bottom-line impact of a 40% reduction in your annual employee turnover:	$

A reduction in turnover costs can have a huge impact on your bottom line. Gevity can help you develop strategies for retaining your best employees.

Calculate your recruiting costs.

This material is for informational purposes only and is not intended to take the place of a comprehensive review of your HR practices, nor does it constitute legal or financial advice.

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Turnover Costs Calculator