Ever Wanted to Determine What Turn Over Really Costs?
by Michael Fox
Check out the handy Turnover Calculator that the folks at the superb website, workforce.com have tracked down. It helps quantify both out of pocket as well as the still real, but hidden, soft dollar costs such as loss of productivity and administrative time in processing leaving employees out and new employees in. You have to fill in your own numbers, but my guess is that doing this analysis might be a good incentive for better hiring decisions, as well as training and even treating your current employees better!