Cost of Employee Turnover Calculator

Frequently Asked Questions about Employee Turnover

What is employee turnover?

Employee turnover, also known as employee attrition, is the rate at which employees leave a company and are replaced.

What is employee turnover rate?

Employee turnover rate, also known as employee attrition rate, is the rate at which employees leave a company and need to be replaced by new hires.

How is employee turnover rate calculated?

The formula for employee turnover rate is:

Employee Turnover Rate = (Number of Employees who Left / Average Number of Employees) × 100

What is the significance of employee turnover rate?

Keep in mind though, that certain industries naturally have higher turnover rates than others.

How can you improve employee turnover rate?

There are a number of steps you can take to improve employee turnover rate including:

1) Improving your hiring and onboarding process

2) Offering competitive compensation and benefits

3) Creating pathways to promotion and skill growth

4) Facilitating work-life balance

5) Offering recognition and rewards

How do you calculate the cost of employee turnover?

The cost of employee turnover includes offboarding costs, recruitment costs, lost productivity costs, as well as impacts on employee morale. Input your organization's numbers above to learn the cost!