This calculator estimates the turnover cost of an employee.
Before beginning this form, you will need to have the following data available:
- The departing employee’s annual base salary.
- Total paid time off (PTO) for the position.
- The departing employee’s notice period.
- The number of estimated days until the position is filled. Use any former experiences coupled with supply/demand estimates and consider your interview and resignation process for the hired candidate.
- The Hiring Manager’s, Coworker’s and the Interview Team’s salary. We separate the Hiring Manager, who is assumed to be paid at a higher level, from that of the blended average of the interview team. You will need to compute the blended average of the interview team by taking all interviewer salaries and dividing them by total interview team headcount.
- The cost of temporary services to “cover” the position or a portion thereof.
- The total number of hours that a Hiring Manager and the Hiring Manager’s Interview Team invests in resume review, interviews and/or related.
- Advertising, agency, relocation and/or sign-on bonus costs.
- Assessment and pre-employment screens.
- Salary of the individual(s) responsible for orientation and training of new hire IF separate from the Hiring Manager and Coworker’s.
- Any extra-ordinary costs not factored into other parts of the calculator. An example would be a top performing salesperson leaving the organization which might result in direct revenue impact not otherwise accounted for in other parts of the calculator. Other examples might be outplacement or litigation costs.
Several fields are pre-filled with common data but replace these entries with your actual data. All fields marked with a red asterisk (*) are required entry although you can enter 0 (zero) as the value if one or more fields don’t apply. Click the ETCC button to begin.