Example Worksheet
Saves time and reduces number of interviews;
Provides interview questions, includes soft skill assessment;
Better Hire Selections, weeds out people of poor fit;
Reduces turnover and helps with the hiring of employees that fit the company;
You may change the per employee numbers to your own values.
*
EMPLOYEE TURNOVER COSTS
$/
Employee
Total
$
1) Separation Costs
Exit interviewing time
$
Separation pay
$
Total separation costs=
$
2) Vacancy Costs
Additional overtime
$
Temporary workers
$
Total vacancy costs =
$
3) Training/ Retraining Costs
Instructor costs
$
Employee/trainee costs
$
Total training costs =
$
4) Replacement Costs
a) Advertising
$
b) Manager's interviewing time
$
c) Administrative time (paperwork)
$
Total replacement costs =
$
5) Lost Productivity Costs
New hire (weekly wages)
$
Total lost productivity cost X8 weeks X30% =
$
6) Revenue Loss Costs
Lost sales
$
Other opportunities lost, carelessness and theft
$
Total revenue loss cost =
$
7) Background Check
Background Check Cost
$
Total Turnover Cost / Employee=
$
Number of Establishments
Employees / Average Establishment
Average Turnover Rate Per Year
%
Cost/Hire x # Hires x Establishments x Turnover %
Total Turnover Cost to You =
$
Potential savings by using TraitSet
tm
Your Savings
TraitSet
tm
savings at 10% improvement
$
TraitSet
tm
savings at 25% improvement
$
TraitSet
tm
savings at 50% improvement
$
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