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The cost of churn is probably higher than you think.
Enter the hourly rate for the employee, his/her supervisor, your HR personal salaries, and the number of employees in your company.

Fill in four numbers and we will tell you your organization's turnover cost.

$ $/hour $ $/hour $ $/hour employees
Employee Salary (average) Supervisor Salary (average) HR Salary (average) Number of employees
at your company
Hard Costs $/hour x hours = Cost
No changes necessary. Prefilled based on the numbers above Prefilled based on averages, but you can customize the # of hours Calculated for you
Separation Costs
(admin time)
Writing job description
Recruiting/placement or internal referral fee
Phone screening
(by supervisor)
(by supervisor)
(by peers)
Reference checking
(by HR)
(by peers)
(new employee)
Hiring bonus
Total Hard Costs
Soft Costs $/hour x hours = Cost
Lost productivity by peers
Lost productivity by supervisor
Lost productivity during vacancy and training new hire
Total Soft Costs
Expenses Cost
Travel expenses
Relocation expenses
Total cost of turnover for one employee $0.00
Total Company Turnover Analysis
Your total company's annual turnover cost $0.00

Calculation: turnover cost for 1 employee × # of employees × 25% national turnover average in 2018 (According to Work Institute)

Annual turnover due to insufficient salary and benefits $0.00

Calculation: turnover cost for 1 employee × # of employees × 9% of turnover due to insufficient salary and benefits

LoanSense could save you up to anually in turnover cost by creating and customizing student loan repayment benefit for you.

Contact Us

Complete the Form to Download the Report

    HR Tool Kit: Is Student Debt Repayment Assistance Right For Your Workforce?

    • Approximately half of turnover is due to insufficient salary and benefits. Poor rewards is the top cited reason employees quit
    • 49% of employees prefer student debt repayment help over a 401(K)
    • 8M American over 50 own $20k more than recent grads owe in the form of Parent Plus Loans (loans given out to parents to finance their child’s education)

    Learn many more data points and how to turn your 401(k) into a dual retirement and student loan benefit.

    Download this report today!

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