How much is turnover really costing your organisation?
Replacing staff is expensive. Unreasonable levels of turnover suggest instability, poor management, and a lack of good planning.
While the more visible costs such as recruiting, on-boarding, and orientation are well known, it's often the hidden costs that most companies never take into consideration. You may feel that your turnover rate is reasonable, but you'll be surprised when you translate it into actual dollars.
This calculator will help identify the most common costs incurred and allow you to determine how much impact employee turnover is really having on your bottom-line.
- Enter your information in both numerical (1,000) and currency values ($1,000) in the green shaded boxes only. If uncertain, enter a reasonable estimate for that category.
- Once you have entered all information, click to compute your cost of turnover. Costs are rounded to and calculated in Australian dollars.