The True Cost of Employee Turnover
Employee turnover is expensive, and it costs more than many HR managers realize.
Estimated Annual Cost of Employee Turnover
Source: Work Institute (2020). 2020 Retention Report. Source: To Have and to Hold (2019). Retrieved from SHRM.orgSOFT COST
(Hiring, Productivity)
$578,880
HARD COST
(Wages, Training)
+$285,120
TOTAL COST
(PER YEAR)
$864,000
REFERED SAVINGS
(PER YEAR)
$216,000
on employee turnover based on your turnover rate of 25%
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