Employee Turnover Cost Calculator

For each role, fill in any field you need, leaving others blank. Press 'TAB' to go to each new field. When you're finished, press the 'Create Cost Calculator Report' at the bottom to pop up a printable window with your complete Cost Calculator Report. This is another leading retention tool from Retention Partners.

Budgeted costs
Role title
Average salary for this role type Salary only. Exclude superannuation, bonus, overtime	$
Recruiter's percentage Average fee charged by recruiters for this type of role. Express as a percentage.	%
Advertising costs Average cost of advertising for this role type online, in newspapers, trade journals, graduate careers day, internal website	$
Interim staff costs Cost of paying others to do this role until filled	$
Reference checks Cost of engaging third party to check references	$
Medical Cost of workers comp checks, executive health checks, immunisation, other medical	$
Psychometric Costs of administering external pyschometric tests such as MBTI or Saville Holdsworth	$
Assessment centre Cost per head of technical skills assessment	$
Probity/security Cost of securing police or national security checks	$
Exit interview Cost of third party conducting exit interview for previous incumbent	$
Other assessments Any additional costs associated with the loss of an employee and the sourcing of a replacement	$
Additional salary Increases to base salary to attract a replacement. Express as annual increase	$
Relocation costs To bring a foreign employee to Australia. Include visa, airfares, relocation allowance, COLA adjustments	$
Sign-on bonus Include a one-off payment to secure a new employee	$
Training costs Include induction and also any industry certification or professional qualification training	$
Other direct cost 1	Comment		$
Other direct cost 2	Comment		$
Other direct cost 3	Comment		$
Budgeted costs total	$
Unbudgeted costs
Loss of productivity prior to resignation Assumed at 10% of salary at final month, 5% at second to last month
Loss of productivity until retrained Number of months until fully productive	Months
Loss of productivity during vacancy Number of weeks vacant	Weeks
Training costs Cost of training: development, trainer, material costs /# of annual participants	$
Peer training until fully productive # hours peers train new employee. Assumes peer $ ph is the same as this role	Hours
Other training	Comment		$
Costs of HR time: Average hourly rate of HR person	$  per hour
Exit interview and exit administration Number of hours	Hours
Preparing job descriptions Number of hours	Hours
Managing/advertising Number of hours	Hours
Briefing recruitment agent/s Number of hours	Hours
Reviewing applications/shortlist Number of hours	Hours
Interviewing applicants Number of hours	Hours
Arranging assessment/s, references Number of hours	Hours
Administration: offer, declines, other Number of hours	Hours
Other HR task 1 Number of hours	Comment	Hours
Other HR task 2 Number of hours	Comment	Hours
Other HR task 3 Number of hours	Comment	Hours
Costs of manager's time: Small	$  Per hour
Separation activities (restructuring, team meetings, farewells) Number of hours	Hours
Shortlist review and interview time Number of hours	Hours
Training replacement until fully productive Number of hours	Hours
Other manager task 1 Number of hours	Comment	Hours
Other manager task 2 Number of hours	Comment	Hours
Other manager task 3 Number of hours	Comment	Hours
Reduced team productivity during vacancy Estimate cost based on any observable or accountable event	$
Revenue loss in future due to loss of customers Estimate cost based on any observable or accountable event	$
Other cost of losing employee 1 Estimate cost based on any observable or accountable event	Comment		$
Other cost of losing employee 2 Estimate cost based on any observable or accountable event	Comment		$
Other cost of losing employee 3 Estimate cost based on any observable or accountable event	Comment		$
Unbudgeted costs total	$
Retention target and budget
How many of these roles do you replace per year?
Annual cost of replacing these roles is therefore
What % decrease in turnover do you want?			1% 3% 5% 7% 10% 20%
How much will that save in replacement costs?
Annual retention budget (10% of replacement cost) =