Workforce Cost Calculator
Use this calculator to figure out the cost of your turnover -- download and do in Excel.
Helpful Background Information:
- Rule of thumb: the cost of replacing any employee is 25% of the salary amount
- Average turnover for home care agencies is between 40-60%
- Average turnover in nursing home for certified nursing assistants is between 40-70%
- Minimum direct cost of replacing a direct care workers is $2,500
- Indirect costs are individual to each organization, but include advertising, training, temporary help, lost productivity, etc.
- Example: An organization that averages 40 terminations per year is spending at least $100,000 (40 x $2,500= $100,000)
For more information, please see "The Business Case for Investing in Staff Retention: Can you afford not to?