Cost of Turnover Calculator
| VACANCY COSTS | ||||
| - Additional Overtime | $ | |||
| - Additional Temporary Help | $ | |||
| - Current Employees Filling In | $ | |||
| Subtract Wages/Benefits Saved During Vacancy | $ | |||
| SUBTOTAL: (click in text field) | $ | |||
| LOST VALUE/PRODUCTIVITY COSTS | ||||
| - 50-100% of Compensation/Benefits Per Week of Vacancy | $ | |||
| - Training Costs Invested | $ | |||
| - Impact of Loss on Departmental Productivity (Estimate) | $ | |||
| (50% of annual salary for one year of service, increasing this figure for each year employed by 10%) | $ | |||
| - Customers Lost to Departing Employee | $ | |||
| - Reduced Productivity of New Hire | $ | |||
| - 80% of new hire's salary during first month | $ | |||
| - 60% of new hire's salary during second month | $ | |||
| - 40% of new hire's salary during third month | $ | |||
| - 20% of new hire's salary during fourth month | $ | |||
| - Lost Co-Worker Productivity Due to Time Spent Bringing New Hire Up to Speed (Estimate) | $ | |||
| - Cost of New Employee Mistakes (Estimate) | $ | |||
| - Impact on Critical Project (Estimate) | $ | |||
| - Lost Sales During Vacancy Period (Estimate) | $ | |||
| SUBTOTAL: (click in text field) | $ | |||
| REPLACEMENT COSTS | ||||
| - Advertising | $ | |||
| - Recruiting Prep/Interviewing/Reference Checking(100-200 hours time involving hiring team) | $ | |||
| - Administrative Assistant Processing Time (30+ hours) | $ | |||
| - Drug Screen/Medical Exams | $ | |||
| - Educational/Criminal Background Check | $ | |||
| - Pre-employment Testing | $ | |||
| - Travel/Moving Expenses | $ | |||
| - New Hire On-Boarding(Putting on payroll, arranging for security cards, establishing credit card accounts, equipment leasing, etc.) | $ | |||
| SUBTOTAL: (click in text field) | $ | |||
| TRAINING COSTS | ||||
| - Orientation (time/materials) | $ | |||
| - Departmental Training | $ | |||
| - Supervisor Time Spent Coaching New Hire (Estimated at 7 hours/week for at least 8 weeks) | $ | |||
| SUBTOTAL: (click in text field) | $ | |||
| TOTAL COSTS (click in text field) | $ | |||
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