Employee Turnover

Reduce the cost of employee turnover and hire top performers with Profiles International

Employee turnover is inevitable. When turnover is excessive, it often puts a business into the red. The costs of turnover are easy overlooked. When ignored, turnover can cost your company substantially..

Excessive employee turnover has obvious costs you can track, but the real costs take a greater toll. Many new employees do not become fully productive until they’ve been trained and gain experience, a process that usually takes several months. The time, effort, and money invested in those employees, walk out the door when they leave.

For a ballpark estimate of the money your organization loses to employee turnover, we suggest using a conservative one third of the total payroll of the people who turned over.

How Much Does Employee Turnover Cost ?

A significant issue facing businesses is finding and keeping good people. By knowing what it costs to replace an employee you can budget for programs that reduce turnover and increase your bottom line.

Calculate Your Turnover Rate Average number of employees Total number of employees leaving in the past 12 months TURNOVER RATE % Calculate Your Turnover Cost Calculate turnover cost for a specific position, or enter averages to calculate annual company turnover cost. Annual Salary (for specific position or company average) Benefits Percentage Expected Vacancy Days (calendar days, not work days) (in whole dollars) Minimum Estimated Turnover Cost Per Employee Minimum Estimated Annual Turnover Cost

 

Now think about the impact of saving that amount of money.
What could your organization have done with that investment?

With Profiles International, you do not have to surrender to your employee turnover rate. Profiles International will help you identify top performers the first time,

as well as match existing employees to the positions in your organization that provide the best job fit.

By focusing on job fit, you will increase your organization’s retention of key employees.

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