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Employee Turnover Cost Calculation

 
The following table can be helpful to calculate the cost of employee turnover per week or per month.


Employee Detachment Cost

Exit interview (One Hour: Preparation, interview, follow up)             _______
Cost of termination time                                                               _______
Cost spent in administrative procedures                                         _______
Increased unemployment (based on the Department of Labor)         _______

Cost of vacancy

Overtime                                                                                     _______
Labor                                                                                           _______
Wages                                                                                         _______

Cost of substitution

Job advertising                                                                              _______
Pre-employment administration                                                       _______
Cost of new hires’ interviews                                                           _______
Staff cost                                                                                       _______

Cost of training

Stationary cost (Books, training manuals, etc.)                                  _______
Formal training sessions (Class room, lab, etc)                                  _______
Informal training (Mentors, etc.)                                                      _______

Employee performance differential

Difference in performance (Productivity, learning, etc.)                      _______

TOTAL TURNOVER COST PER EMPLOYEE                                            _______


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