Improve Employee Retention With On-Demand Pay

A hotel staff member in a black uniform stands by a luggage cart, holding a blue suitcase. The background shows a hotel entrance with glass doors and decorative paneling. In today’s competitive industry, tools like the employee turnover calculator help manage staffing effectively.

What is Employee Turnover?

Employee turnover is the number of employees who leave your company during a given time period.

A high turnover rate can be costly for organizations, leading to excessive replacement hires and potential skills gaps.

Learn how to reduce employee turnover with DailyPay.

Voluntary vs. Involuntary Employee Turnover

Employees may leave a company for any number of reasons, by their own discretion or by a company's decision.

Voluntary turnover is when an employee willingly leaves a company for another company and involuntary turnover is when an employee leaves a company because of termination.

Illustration of a woman in a pink striped shirt, holding an OK gesture near her eye, with financial symbols, graphs, and an employee turnover calculator around her.


Divide the total number of employees who leave your organization in a month by the average employee count at your company.


Multiply this number by 100 to determine your employee turnover rate percentage.

A diagram showing the formula for monthly turnover percentage: Employees who leave divided by the average number of employees, multiplied by 100. Use this employee turnover calculator for accurate results.

Now that you know your company’s employee turnover rate, see how you stack up against industry averages from 2021.

A hand holding a red pen checks boxes on a clipboard with a checklist, possibly an employee turnover calculator. Various bills and coins with dollar signs are scattered beside the clipboard.

How many employees do you have?

What is your annual turnover rate?

Cost per new hire

fewer replacement hires


employer cost savings


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Disclaimer: Calculations based on assumptions and annualized averages


average turnover rate improvement for workers with earned wage access solutions across industries examined by Mercator Advisory Group.1


say that if they were seeking a new job, they would be more attracted to an employer that offered an on-demand pay benefit than an employer that did not.1


of users say DailyPay has helped them reduce financial stress, according to a 2022 study conducted by DailyPay.

The World’s Top Companies Trust DailyPay

Learn how our clients achieve reduced employee financial stress and turnover,leading to increased employee satisfaction.

Read our case studies

  • What is employee turnover rate?

    Employee turnover is the number of employees who leave your company during a given time period.

  • How is turnover calculated with an example?
  • Is a 10% turnover rate high?
  • How do you calculate employee turnover in Excel?
  • What is the average turnover rate?
  • What is the difference between turnover and attrition?
  • What are the 3 types of turnover?
  • What is the difference between turnover and churn?
  • What does a 100% turnover rate mean?
All information herein is for educational purposes only and should not be relied upon for any other use. The information herein does not constitute the rendering of professional advice by DailyPay. DailyPay does not warrant the completeness or accuracy of any information provided to you.

See Why Top Companies Choose DailyPay

Empowering for Employees

Greater financial control with access up to 100% of their DailyPay balance to meet the challenges of unexpected financial disruptions.

Improved planning with visibility to spending and earned pay in one easy-to-use app.

No need for a pre-existing checking or savings account.

Simple and Secure for Employers

Minimal change to payroll processes — DailyPay handles it all.

Seamless integration with HCM, payroll, banking and benefit applications.

Enterprise-grade platform that keeps data private and the service running so it's always there when your employees need it.