Turnover Cost Calculation - Expanded Version

(Formulas included)
Essential Data
Employee's classification

______________

Employee's hourly pay rate:

______________

Employee's supervisor's pay rate:

______________

Staff pay rate (may be an average):

______________

Hours
SEPARATION COSTS
Exit interview costs:
Staff conducting interview
Departing employee being interviewed
Payout of annual leave for departing employee
Other separation costs (unemployment benefits)
Total Separation Costs

VACANCY COSTS
Temporary and contract workers
Overtime of current employees
Other vacancy costs
Total Vacancy Costs

REPLACEMENT COSTS
Communicating job availability costs:
Advertising

Wages

Staff costs to prepare ads

Screening candidates costs:
Staff costs for recruitment screening
Pre-employment testing
Interviewing and selecting candidates costs:
Staff preparation and actual interviewing time
Staff costs to select final pool of candidates and final candidate
Administrative Costs:
Payroll staff costs
New employee's time to complete administrative paperwork
Other replacement costs
Total Replacement Costs

TRAINING COSTS
Orientation Costs:
Staff conducting orientation
New employee attendance
External training (seminars, workshops):
Fees
New employee attendance (time away from job)
On-the-job training:
Staff conducting on-the-job training
New employee time
Other training costs
Total Training Costs
TOTAL TURNOVER COST

Total

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