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Average cost of employee turnover12/2/2023 Some of this occurs in every industry, but the answer for the issue is the same in each one: focus on hiring stronger performers. This shows that the majority of terminations in the nonprofit sector is performance related. This survey noted the following statistics: Termination for performance-related reasons comes in highest at 58%, followed by “other” at 36% and layoffs at 29%. A Nonprofit HR 2019 survey discussed various aspects of talent retention for nonprofits and the reasons for involuntary turnover. This could be an issue of finances of course, but more often than not, involuntary turnover is caused by an issue with performance. You’ve had to let them go for one reason or another. Involuntary Turnover - Some turnover is involuntary on the part of the staff member. Access this amazing calculator for free so that you can see this value for yourself! That’s why at The Nonprofit Leadership Alliance, we’ve created a turnover calculator so that you can quickly determine the costs associated with employee departures. This will help show your organization the immense value of employee retention. Understanding these direct and indirect costs is an incredibly important planning tool that nonprofit managers can use when creating scenario plans and determining hiring strategies. While you may consider the costs associated with compensation, many organizations don’t consider the long-term costs associated with turnover. Your employees may come and go for a variety of different reasons. Paying for expenses like salary, benefits, training, and equipment adds up! And for every nonprofit, your staff members are without a doubt your greatest asset. For most nonprofits, personnel costs often make up the single largest expenses line in their budgets.
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