turnover cost calculator
Between the lost productivity, stress on the team left behind, and the time and effort it takes to replace them, turnover in a veterinary practice is costly. A recent study on burnout in vet med estimated that the tangible cost of replacing a lost veterinarian or technician might be as much as 66% of their annual salary.
Creating a hospital culture that attracts and retains talented, passionate veterinary professionals isn’t just good management practice, it’s good business.
Research suggests that veterinary professionals are more than 2x more likely to stay in a hospital with a positive culture.
Teams that stay together are more productive together. They also save the hospital money in reduced turnover costs.
How much money? Check out our Flourish Turnover Cost Estimator to find out!
Turnover Cost Calculator
To determine the potential cost of turnover in your hospital,
fill in the first two blanks in the Flourish Turnover Cost Estimator
Approximately how many TOTAL team members have left your practice in the last year?
How many were DVMs?
Total potential cost of turnover
Total potential savings of working with Flourish
Calculator based on data from the following sources:
-
The Economic Cost of Burnout in Veterinary Medicine, Frontiers in Veterinary Science, 2022
-
Salary.com
-
The 2022 Flourish Veterinary Consulting Leadership & Workplace Experience Study
Conduct a Flourish KPI Survey to Check the Pulse of Your Team
Leaders can only manage what they can measure, and while businesses have many ways to measure Key Performance Indicators for financial performance, it's a lot harder to measure your staff's well-being.
Flourish offers a different kind of KPI - the Key People Indicators. Our evidence-based survey gives you a quantified "pulse-check" of your team's workplace experience.
The Flourish KPI Survey is a great first step in empowering you to cultivate a positive workplace for a thriving team. Schedule a Conversation today to learn how your business can implement this invaluable process.
Flourish proudly supports the following organizations and the worthy work they do to cultivate a diverse, inclusive, equitable, and thriving veterinary community for all
Veterinary professionals who work in positive hospital cultures do better, feel better, and stay.
It's science! And our data proves it. Download the free 2022 Flourish Leadership & Workplace Experience Study white paper to learn about the 4 big positive differences positive leadership has in veterinary practices and what you can do to retain an engaged, committed, happy team!