Employee turnover calculator

March 11, 2024

A simple employee turnover cost calculator

Employee Turnover Cost Calculator in Excel

The actual expenses associated with employee turnover encompass more than just severance packages, advertising for new positions, and payments to hiring agencies. It's believed by some organizations that the replacement cost for an employee could be as much as four times their annual salary. Our tool allows you to evaluate the financial impact that turnover and low retention rates might have on your company.

Calculating Employee Turnover Expenses

This calculator takes into account a wide range of costs that arise when an employee leaves, providing insight into the genuine expense of hiring a replacement.

To utilize this tool, simply enter the applicable costs for your company into the grey-shaded areas of the excel sheet. The calculator will automatically compute these figures, offering you an estimate of the real financial burden of employee turnover.

Download it here: https://shorturl.at/pD359