Did you know that experts estimate replacing a salaried employee costs 150 percent of compensation? Or that replacing an $8/hour worker costs an average of $5500 per person? If you own a business, now might be a good time to see how much turnover is costing you.
Despite the harm it can cause to the bottom line, many businesses do not actually know how much turnover costs them. Policies that support workers, such as paid sick days, can help decrease turnover and reduce these costs. This turnover calculator provides an estimate of how much turnover costs your organization.