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Worksheet: Turnover Costs
Employee’s Annual Salary:_____________
Benefits costs: _____________
Cost of advertising:
_____
Average # hours spent reviewing resumes _____ x Manager’s hourly wage =
_____
Average # hours spent interviewing candidates ____ x Manager’s hourly wage =
_____
Average # hours orienting new employee ____ x Manager’s hourly wage =
_____
Plus ____ x new employee’s hourly wage =
_____
Avg. # hours spent training new employee ____ x Manager’s hourly wage =
_____
Plus ____ x new employee’s hourly wage =
_____
Percent effectiveness new employee works at ____ x number of days until
functioning on own x number of hours work/day x new employee’s hourly wage =
_____
Emotional costs of new employee not having anyone to orient/mentor, etc.:
_____
Cost of time spent “recreating the wheel”:
_____
Cost of manager and new employee’s benefits from above:
_____
Cost of loss of knowledge (scientific/expertise/SUGEN):
_____
Cost of absenteeism of other employees affected by the turnover:
_____
Additional costs (burnout, morale, continuity of services, etc.):
_____
Administrative costs:
_____
Miscellaneous costs not included above:
_____
Total turnover cost for one employee:
_____
Investment fees for training one employee:
_____
“Build today, then, strong and sure,
With a firm and ample base;
And ascending and secure
Shall tomorrow find its place.”
--- Henry Wadsworth Longfellow
