CALCULATOR
Employee Turnover Cost Avoidance
How much could you avoid spending on annual and new-hire turnover?
For 3 consecutive years, the industry-wide turnover rate has hovered around 65% in Home Care. In Home Health and Hospice, the trend has moved closer to 35%. Most turnover occurs within the first 90 days of employment.
The good news is: There are ways to reduce your employee turnover costs and focus more time and effort on your current employees.
Organizations who are able to create a strong onboarding and learning experience for their employees minimize the cost to train employees who leave the business and are able to grow faster and recruit more top talent.
Question
Answer
Benchmark
Average Turnover Rate (%)
35% or 65%
Turnover Cost Per Employee ($)
$3,900
Current Employee Count
N/A
Planned Hiring for next 12 months
N/A
Improvement To Turnover (New Staff)
50%
Improvement To Turnover (Existing Staff)
25%
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Operational Savings of Retain
Estimated Turnover Cost of Planned New Hires
Planned Hiring
X
Turnover Rate
=
New Staff Turnover Cost
Estimated Turnover Cost of Current Staff
Current Staff
X
Turnover Rate
=
Existing Staff Turnover Cost
Estimated Turnover Cost Avoidance from Retain in Each Segment
Avoided Turnover Cost of New Staff
+
Avoided Turnover Cost of Existing Staff
Total Anticipated Savings from Retain
Want to learn more about how HCP improves
employee training and satisfaction, while reducing turnover?
