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How to Calculate Employee Turnover. The basic formula for calculating employee turnover is: Step 1: Find your average number of employees. ((# of employees beginning of year) + (# of employees end of the year))/2 = average # employees. Step 2: Find the turnover rate. (the # of employees who left your company) / (Step 1âs answer) = turnover rate
Turnover Rate Example. For example, if ABC Plumbing started 2016 with 10 people, ended 2016 with 16 people, and had 6 people quit during 2016, their turnover rate is calculated by: 10 + 16 = 26; 26/2 = 13 = average number of employees; 6/13 = 46% = employee turnover rate; Anything over 20% is considered a very high turnover rate. The goal is to be 10% or less, depending on your industry. The Cost of Employee Turnover. SHRM estimates that the average cost per hired employee in the US is $4,129, plus it takes nearly 42 days to find them.