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Employee turnover is not cheap. This calculator will help you and the HR department evaluate the real cost of replacing key employees and manager against possible risks as staff members leave the company.
By calculating the cost of employee departure, the enterprise can prioritize retention efforts accordingly. A high cost of employee departure makes employee retention all that more important.
Use this Total Cost of Turnover Worksheet to help you list and organize all the costs associated with employee turnover. The costs are neither exclusive nor exhaustive, so be sure to speak with Human Resources personnel for greater knowledge of your company's recruiting, training, retention, and termination policies.
The attached ZIP file includes:
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