Employee turnover is inevitable and, while some employee turnover can be useful, losing good performers is not only a "brain drain" of your organization's human capital, it also carries with it direct and indirect costs associated with both the separation and replacement of the very employees you would rather retain.
Reliable studies estimate direct turnover costs per employee to be 25-30% of an individual employee's salary/benefit package, with indirect costs inflating that figure substantially.
Average number of employees
Number of employees who voluntarily left your firm during the past year
Average Annual Salary
Average Benefits PercentageU.S. Average Benefits Percentage = 30%
(includes health, accident and life insurance, worker's comp, unemployment insurance, etc.)
Total Average Salary/Benefits Package Value
Average Length of Vacancy (calendar, not work days)minimum period of 10 days
To a great degree, voluntary turnover is manageable. Investing in retention solutions that result in even a small reduction in your organization's turnover rate can realize substantial reductions in turnover expense over the long term.
Workforce morale can fluctuate between negative and positive for several reasons. Communication is key for a healthy working environment. Knowing what people are negative about is the first step to solving this problem.
How much would you like to reduce your turnover?
less person(s) voluntarily leaving our organization each year.
|Return on Investment (ROI)|
|Estimated price for full workforce survey for 0 employees||$0|
|Estimated turnover cost reduction||$0|
|Estimated return on investment for purchase of survey||$0|
|Estimated return on investment percentage for purchase of survey||0%|