The Great Canadian Turnover and Pay Raise Calculator
How much is employee turnover costing your business?
Looking for our Paid Sick Days Calculator? Click here.
The Turnover Calculator
Based on Go Tours Canada, this employee turnover calculator is designed to give you insight into some of the economic costs of turnover at your business.
Every time you lose an employee, there are training costs, lost sales, and many other small costs associated with ending that person’s employment.
We have put together this Turnover calculator to help businesses understand these costs. Tied together with our Pay-Raise Calculator, you can evaluate how turnover and pay increases are related to each other.
The Pay Raise Calculator
The last couple years have emphasized cost of living as a great barrier for many people.
Many businesses are considering how they can increase pay to stay competitive and make sure their employees are able to afford living.
The Better Way Alliance Canadian Pay Raise calculator is designed to give you a definitive tool to calculate a round of raises. A strategic pay raise can help avoid high turnover and ensure you keep your best staff. Find out just how affordable raising can be vs. high turnover.
Turnover and Pay Raise Calculator Guide
Now that you have your two key numbers (total turnover cost, total wage increase cost), you have a lot of information to make decisions about your retention strategy.
Remember the turnover tool is per employee lost. Which cost is higher if you lose two or three employees? What if your turnover rate mirrors the industry standard?
Which cost is higher if you were to increase wages for just the lowest pay grade on your payroll?
Which cost is higher if you were to increase wages for just the pay grades below a Living Wage? Check them out at https://www.livingwage.ca/