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Cost of Employee Turnover Calculator

Find out how much employee turnover costs your company every year (and how much Ten Spot can save you).

Your team

Employees

Your savings

Number of Employees on Your Team
100
People who'd leave due to the lack of recognition and engagement
20
Total cost of hiring and training new hires
?
Assumes a $6,000 cost per opening, a conservative calculation below the estimated 16-21% per employee. Sources below.
$120,000
Ten Spot could save you per year

Employee engagement and recognition are key to securing and retaining talent.

According to the Center for American Progress, the cost of replacing an employee ranges from 16-21% of their annual salary, depending on the industry and length of time on the job. A Gallup study has estimated that the cost of replacing an individual employee can range from one-half to two times the employee’s annual salary.

And that doesn’t even account for the impact of other employees covering work, loss of institutional or function knowledge, or the ramp up time for a new employee to start making an impact. It’s no surprise then that employee retention is a major concern amongst many employers.

Curious how much it could really be costing you? Try this calculator to find out. Or, get started free today.

 

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