Employee Turnover Calculator

Conservative estimates suggest that the cost of staff turnover on your business can be as much as 6 months salary for general staff and 18 months salary for executive staff.

This cost is made up of direct and indirect costs such as:

• Recruitment, advertising and agency costs
• Administration of the resignation, recruitment and selection process
• Lost productivity of departing employee
• Lost productivity of vacant position
• Induction training for the new employee
• Lower productivity of new employee during training
• The impact of employee turnover on customer relationships

Better employee engagement through wellness initiatives can contribute to a reduction in employee turnover. To find out more contact Southern Cross on 0800 323 555.

To read more about the cost of recruitment refer to The Learning Centre.

What is the cost/benefit ratio of retention?
Have you considered the possible gains from keeping an employee and supporting them so they are encouraged to continue to work productively?