Employee turnover cost calculator
- Turnover rate for the period, percent
- 29
- Average headcount
- 21
- Annualised turnover rate, percent
- 29
Every figure on this page is computed from the inputs you enter, by the method stated below it. The only constants HeadcountDesk supplies are the published federal payroll tax rates and the overtime multiplier, each cited where it is used. The defaults are a worked example to replace with your own.
An employee turnover cost calculator takes the departures over a period, the average headcount and the loaded cost per employee and produces two numbers: the turnover rate and what those departures cost to replace, using a published multiple of salary. The turnover rate calculator on this site produces the rate and the true cost of employee calculator produces the loaded cost, both free and without an account; HeadcountDesk Pro keeps the figures by role and by manager, which is where the retention plan starts.
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The rate
Departures in the period divided by the average headcount. The free turnover rate calculator on this site produces it; split by role, tenure and manager it becomes useful.
The cost per departure
Gallup puts the cost of replacing an employee at one-half to two times the employee's annual salary, and calls that a conservative estimate. Applied to the loaded cost, which is the free true cost of employee calculator on this site's output: the wage plus the employer's taxes and benefits.
The total, by role
Departures in each role times the cost per departure for that role. The role with the largest total is where the retention plan starts.
Kept and re-measured
Pro keeps the rate and the cost by role and manager each quarter, so the retention plan is judged on a number. From the vendors' own pricing pages: Homebase lists Essentials at $24 per location per month billed annually or $30 monthly, with a free Basic plan for one location of up to ten employees; BambooHR lists Core at $10 and Pro at $17 per employee per month; Deputy lists Core at $6.50 per user per month. HeadcountDesk Pro is $24 a month per location.
Employee turnover cost calculator: common questions
Is the turnover cost calculator free?
Yes. The free turnover rate calculator on this site and the free true cost of employee calculator on this site run with no account. Pro keeps the figures by role.
What multiple of salary does replacing an employee cost?
Gallup puts the cost of replacing an employee at one-half to two times the employee's annual salary, and calls that a conservative estimate.
How do I calculate turnover rate?
Departures over the period divided by average headcount; the calculator does it from your figures.
Will it do what you need for Employee turnover cost calculator?
Tell us what your business needs and we will tell you straight whether HeadcountDesk Pro does it today, whether it is coming, or whether you are better off with something else. A person reads these and replies.