Employee Turnover Is Costing Your Business

This calculator helps you determine the ROI of working to decrease employee turnover. Employee turnover is a major cost for businesses due to factors such as recruiting and training costs, average salaries, and lost productivity. 

With this information in hand, you can start to take steps to reduce employee turnover and save your business money. By implementing a tool that encourages feedback, and receptive practices and policies that encourage employee satisfaction and engagement, you can help keep your best employees from leaving. So, how much can you save by decreasing employee turnover at your business? Use the Employee Turnover Calculator to find out.

Employee Turnover Calculator

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Estimated Annual
Savings with AllVoices

$0

Number of Employees

0

× Average Annual Employee Salary

$0

× Current Turnover Rate

0%

× Employee Turnover Cost

38% of Salary

× Turnover Rate Reduction

33%

Start Saving

Questions? We have answers.

How are the savings with AllVoices calculated?

We multiply the number of employees, the average salary, benefits costs, the current turnover rate, and the expected turnover reduction savings (33%) — and this gives us an estimate as to what AllVoices is likely to save you every year. The 33% estimated reduction in cost was developed from a combination of two variables. First, our customers have reported back an estimated 33% reduction in turnover after implementing AllVoices. Second, according to our State of Workplace Harassment study and report, 34% of employees have left a job because they don't feel heard. With the AllVoices platform, and your very own customer success manager, a successful onboarding means that your employees will feel heard, with a platform that they feel comfortable using.

Where can I find my company's average employee salary?

If you want the most accurate savings number, it’s best to have the most accurate information around salaries. If you’d like, you can come up with a ballpark estimate, or you can check with your company's HR department to see what the average salary is for employees at your company. Just know that most of the time this information is often confidential, so you may not be able to get a complete answer. If it's helpful, the average salary in the U.S. $51,480 (2021).

What employee benefits are taken into account? 

The average cost of benefits (according to the Bureau of Labor Statistics) is around 31%. Some of these benefits include health insurance, dental insurance, and vision insurance. Employers also commonly cover life insurance and disability insurance, and some even offer 401(k) plans.

How do I calculate my current employee turnover rate?

To calculate your company’s employee turnover rate, divide the number of employees who left during the year by the average number of employees during the year. This will give you the percentage of employees who left their job during the year.

How much does it cost when an employee leaves the company? 

According to the most recent study by the Bureau of Labor, the average cost of an employee leaving is about 38% of their salary. This takes into account the recruitment and onboarding of a new employee, along with the lost productivity. 

Why is turnover rate reduction important and how does AllVoices help? 

Reducing the turnover rate is important because it can have a significant impact on a company’s bottom line. High employee turnover can be extremely costly, as businesses must spend time and money recruiting and training new employees. In addition, high turnover can disrupt workflows and lead to decreased productivity.

There are several things a company can do to reduce its turnover rate. One of the most important is to create a strong culture that emphasizes employee satisfaction. AllVoices encourages companies to create and cultivate a strong, inclusive culture, where managers can improve and create positive work environment and support their employees.

Why do leading companies trust AllVoices
with reducing their turnover?

Encourages Employees to Share Feedback

AllVoices provides employees with an anonymous way to raise feedback and concerns and capture valuable insights in real time. This allows employees to be candid and honest without fear of retribution.

Cultivates Positive Company Culture

Empower your employees to feel safe anonymously speaking up and voicing their opinions about harassment, bias, culture and other vital workplace issues. This allows companies to stay on top of incidents, before issues become organizational norms.

Maintains the Security And Integrity of Your Data

The security of your data is our highest priority.  AllVoices uses multiple security measures to ensure the safety of your data and to ensure compliance with industry best practices and globally recognized standards including SOC 2,  GDPR, and CCPA Compliance. Any data entered into AllVoices is fully secured using Advanced Encryption Standard (AES-256).

The Cost of Employee Turnover

Employee turnover can be costly for businesses of all sizes. In a recent AllVoices study, we found that the average 500 person company experienced a 30% loss in their workforce in 2021. These employees cost an average $81,000 to replace.

According to Gallup, the cost of replacing an individual employee can range from 1.5-2x the employee's annual salary. There’s no question that turnover can be expensive, especially at the unprecedented rate set by “The Great Resignation”. But there are steps you can take to reduce it. 

By creating a strong workplace culture, empowering employees, offering competitive benefits, and providing career development opportunities, you can keep your employees happy and reduce the likelihood of them leaving. One of the most efficient ways to do this effectively is by investing in tools that will give you a way to survey and check in with your employees. Employee feedback management tools, like AllVoices, can help you take relevant action - maintain the preferred culture, offer the needed benefits, develop the sought-after opportunities, to keep your employees happy.

30%

average turnover rate at companies with 500+ employees.

$81,000

average cost to replace each employee.

47%

of active job seekers cite company culture as their driving reason for looking for work.
Happy Customers

What our customers are saying

“The anonymity feature creates a safe environment for employees to also raise more sensitive topics, providing an opportunity for us to address issues effectively and in a timely manner.”
Arjen Mackaaij
SVP of People, FabFitFun
"Sustainable cultures create multiple pathways for employees to receive support. AllVoices can be a valuable part of your people strategy and demonstrate your commitment to doing the right thing no matter the situation."
dan spaulding
Chief People Officer, Zillow
"Implementing AllVoices vs. a traditional whistleblower hotline has given us much more opportunity to dialogue with employees who report concerns due to the anonymous messaging feature of the tool.  The UI is great and the ability to report on cases for compliance purposes is easy."
Kristie Rodenbush
Chief People Officer, Algolia