Track the percentage of employees who leave over a period to benchmark retention efforts and estimate hiring and training costs.
Employees who left during the period (voluntary and involuntary)
Average headcount during the period
Used to estimate replacement costs (typically 50-200% of salary)
Employee turnover rate measures how many employees leave an organization over a given period. High turnover can indicate workplace issues and leads to significant replacement costs.
Turnover Rate
Retention Rate
Estimated Replacement Cost
Based on 100% of average salary per separation
US average annual turnover is approximately 15-20% across all industries.
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