How Much Does Employee Turnover Really Cost Your Business?
Turnover is costly. Despite the harm it can cause to the bottom line, many businesses do not actually know how much turnover costs them. Policies that support workers, such as paid sick days, a fair minimum wage, investments in workforce training, and work sharing, can help decrease turnover and reduce these costs.
The Center for Law and Social Policy (CLASP) and Center for Economic and Policy Research (CEPR) have developed a handy online turnover calculator to estimate how much turnover actually costs a business.