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Turnover Cost Calculation - Expanded Version
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(Formulas included)
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Essential Data
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Employee's classification
______________
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Employee's hourly pay rate:
______________
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Employee's supervisor's pay rate:
______________
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Staff pay rate (may be an average):
______________
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HoursWagesTotal
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SEPARATION COSTS
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Exit interview costs:
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Staff conducting interview0٫00
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Departing employee being interviewed0٫00
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Payout of annual leave for departing employee0٫00
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Other separation costs (unemployment benefits)0٫00
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Total Separation Costs0٫00
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VACANCY COSTS
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Temporary and contract workers0٫00
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Overtime of current employees0٫00
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Other vacancy costs0٫00
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Total Vacancy Costs0٫00
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REPLACEMENT COSTS
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Communicating job availability costs:
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Advertising0٫00
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Staff costs to prepare ads0٫00
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Screening candidates costs:
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Staff costs for recruitment screening0٫00
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Pre-employment testing0٫00
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Interviewing and selecting candidates costs:
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Staff preparation and actual interviewing time0٫00
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Staff costs to select final pool of candidates and final candidate0٫00
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Administrative Costs:
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Payroll staff costs0٫00
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New employee's time to complete administrative paperwork0٫00
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Other replacement costs0٫00
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Total Replacement Costs0٫00
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TRAINING COSTS
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Orientation Costs:
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Staff conducting orientation0٫00
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New employee attendance0٫00
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External training (seminars, workshops):
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Fees0٫00
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New employee attendance (time away from job)0٫00
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On-the-job training:
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Staff conducting on-the-job training0٫00
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New employee time0٫00
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Other training costs0٫00
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Total Training Costs0٫00
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TOTAL TURNOVER COST0٫00
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