RNTT gave me some good advice on my resume, suggesting that I quantify the value of achieving a low turnover rate. Below is the before and after accomplishment bullet followed by some research and thought process for how I came up with it:
Achieved less than 2 % employee turnover rate over 7 years.
Saved over $1,000,000 in recruiting expenses and lost efficiencies by maintaining a 2 % employee turnover rate over 7 years.
First off there is nothing solid out there about determining the cost of turnover. It is estimated at anywhere from a few thousand dollars to upwards of 400% of the annual salary for highly specialized employees. If you google “the cost of employee turnover” you get a lot of articles. I would recommend the following:
Since I led technical people with deep knowledge of our systems, I decided to use 1.5 x salaries as the basis for my metric, which is probably conservative.
Comparison Turnover Rate:
I had trouble finding clean information about a national turnover rate. Some sites I found indicated it was 20% or higher. I found another site that listed it by industry and showed IT at 10% (linked below).
I ended up using 10% as my basis just to be conservative.
The rest is simple math. 10%-2% = 8% of employees not lost/year. This number of employees times avg salary x 1.5. times # of employees totaled across 7 years.
Hope that is helpful info.