Bridging the Generation Gap: How to Get Radio Babies, Boomers, Gen Xers, and Gen Yers to Work Together and Achieve More

Appendix B

Worksheet: Calculating Turnover Costs

Turnover Ratio: The number of employees who left, divided by the average number of people employed per year.

Separation Costs

1. Interviewer’s Time (hours spent × hourly rate*) $_____

2. Terminated Employee’s Time (while on payroll: hours spent × hourly rate) $_____

3. HR Administrative Functions (termination paperwork: hours spent × hourly rate) $_____

4. Separation Pay $_____

Total Separation Costs $_____

*include benefits in the hourly rate

 

 

Replacement Costs

1. Advertising $_____

2. Internal Communications (development time × hourly rate) $_____

3. Interview Time (hours spent × hourly rate for interviewer) $_____

4. Administrative Functions (typing, copying: hours spent × hourly rate) $_____

5. Applicant ...