Employee Turnover Cost Calculator

This calculator helps employers understand how decreasing employee turnover can provide significant improvements to their bottom line.

This calculator helps employers understand how decreasing employee turnover can provide significant improvements to their bottom line.

Target Turnover Rate with VSA Fund

We expect turnover to decrease at least 2-5% from your Current Turnover Rate

Monthly Employer VSA Fund Contribution per Employee

Employers tend to contribute $30-$80 per month

VSA Fund ROI

3.1x

Key Factors for Calculating Employee Turnover Cost

  • Current Turnover Rate: the employee turnover in the U.S was 19.3% in 2018 according to Salary.com.

  • Benefits Costs % of Salary: the average benefits cost as a percentage of salary is 30% according to the Bureau of Labor Statistics.

  • Average Salary: the median adjusted weekly earnings was $897 for full time employees, which equates to $46,722 per year according to the Bureau of Labor Statistics.

  • Increased Productivity: top quartile workers have 21% more productivity than the bottom quartile according to an article by Gallup. A 2% increase in productivity overall will provide significant savings annually.

  • Turnover Cost % of Salary: the average turnover cost as a percentage of salary is 33% according to the Work Institute 2018 Retention Report. Turnover cost can include (but are not limited to):
  • Time a hiring manager and other employees spend:
  • reviewing resumes
  • interviewing
  • training new employees
  • Cost of online advertisements (LinkedIn, ZipRecruiter, etc.)
  • Cost of an external recruiter
  • Cost of background checks and drug screening
  • Cost of lost productivity