Employee Turnover a Critical Human Resource Benchmark

By United States Department of the Treasury

Book Id: WPLBN0000670839
Format Type: PDF eBook:
File Size: 0.2 MB
Reproduction Date: 2005

Title:	Employee Turnover a Critical Human Resource Benchmark
Author:	United States Department of the Treasury
Volume:
Language:	English
Subject:	Government publications, Economics., United States. Department of the Treasury--Appropriations and Expenditures.
Collections:	Government Library Collection, U.S. Department of the Treasury Collection
Historic Publication Date:
Publisher:	United States Department of the Treasury


Citation APA MLA Chicago States Department Of The Treasury, B. U. (n.d.). Employee Turnover a Critical Human Resource Benchmark. Retrieved from http://www.gutenberg.cc/

Description
Government Reference Publication

Excerpt
Introduction and Summary: Human resource managers know that turnover is a major cost and significantly impacts the corporate bottom line. This HRBenchmarks shows that with an estimated turnover cost of $12,506 per full-time vacancy1 for the average employee with total compensation (wages and benefits) of $50,025 and with an annual 23.8 percent turnover rate for full-time employees, a Fortune 500 corporation with 40,000 full-time employees would face turnover costs of $119 million per year. A change in the turnover rate of one percentage point would add to or subtract from corporate operating costs up to $5 million per year.