Employee and Turnover cost calculator

Student

Employee terminations during period*
(Voluntary and Involuntary)
Employee base during the same period*
Turnover Rate %
(Note: The period may be any period - monthly or annually; but, must be consistent for Terminations and Employee Base.)
Cost of "lost" employee
(average salary for different positions if estimating full company turnover cost)
Departing employee annual base salary*
<- Enter salary (xxx,xxx)
Calculated annual benefits cost
Estimated at 20% of base salary
Calculated monthly salary + benefits
Calculated daily salary + benefits
Based on 230 (8hr) working days (260 less 10 vacation, 10 holidays, 10 sick)
Cost of other employees filling in while the position is vacant
Number of days until the vacant position is filled*
<- Enter number of working days
Calculated daily cost of 'covering' a vacant position
33% of departing employee's daily salary + benefits
Total cost to 'cover' vacant position
Cost to fill a vacant position
Hiring Manager's annual salary*
<- Enter salary (xxx,xxx)
Note: if you are the hiring manager - insert your annual salary
Calculated Hiring Manager's hourly rate
Based on 230 (8hr) working days and 20% fringe r
Cost of advertising (online and/or print)*
<- Enter cost (x,xxx) (Cost of online: $500 - 3,000 Print: $1,000 - 5,000)
Cost of resume screening*
<- Enter No. of hours (Minimum 10 hours, average 25+)
Cost of interviews (telephone screening, 1st and 2nd)*
<- Enter No. of hours (Minimum 10, average 25+)
Cost of behavioral and skills assessments*
<- Enter cost ( x,xxx) (Average: $500 - 5,000)
Cost of background checks (criminal, workers compensation, reference, education)
<- Enter cost ( xxx) Average: $250 - 500
Cost of travel/moving expenses (if applicable)*
<- Enter cost (xx,xxx) (Professionals average: $1,000 - 10,000)
Total cost to fill a vacant position
Orientation and Deploying costs
Trainer/Manager annual salary*
<- Enter salary ( xxx,xxx)
Note: if you are the Trainer/Manager - insert your annual salary
Calculated trainer/manager daily rate
Based on 230 (8hr) working days and 20% fringe rate
Total training days (up to basic proficiency)*
<- Enter number of days
Total onboarding and orientation cost
Cost of productivity ramp-up
(During the first 3 months, an average new employee performs at 50% productivity of a tenured top performing employee)
Daily employee cost (salary + benefits)
Number of working days during first 3 months*
<- Enter number of days (avg. 54 days)
Cost of productivity ramp-up
50% of daily rate
Total cost of turnover (per employee)
Number of employees lost (in the last 12 months)*
<- Enter number of employees
Hidden
Estimated annual turnover cost
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