Employee Turnover Charlotte NC

The following contains aircraft services information you should know about employee turnover. Read on if you or a loved one is interested in aviation and transportation in Charlotte.

Local Companies

BB & T
704-954-2100
8558 University City Blvd
Charlotte, NC
First Citizens Bank
704-338-4104
6709 N Tryon St
Charlotte, NC
Good Tim
704-548-3636
10128 University City Blvd
Charlotte, NC
Pomykacz Joe
704-535-3700
2730 E Wt Harris Blvd
Charlotte, NC
State Employees Credit Union
704-549-5822
8605 University City Blvd
Charlotte, NC
Banco De Gente Administration
704-909-5460
800 E Arrowood RD
Charlotte, NC
Blue Ridge Savings Bank
704-749-3140
6035 The Plz
Charlotte, NC
Equan Uwem
704-535-4090
5412 Central Ave
Charlotte, NC
Fifth Third Bank
704-688-1435
7809 Colony RD
Charlotte, NC
Bank of America
704-759-8318
7823 Colony Rd
Charlotte, NC

provided by: 

There are many opinions regarding employee turnover. Some believe it is an inevitable fact of doing business. Others say that turnover is a symptom that indicates deeper organizational problems are present.

One thing is for sure — turnover costs a company. How much? Well, you may be surprised. The Department of Labor publishes a worksheet (www.dol.gov/cfbci/turnover.htm) that helps employers get an idea of how much it costs to replace an employee who leaves your organization. Once a company realizes the true cost of turnover, it can take steps necessary to stem the turnover tide.

Following is the worksheet published by the Department of Labor. Take a few minutes to fill it out. You might be surprised to see the true cost of employee turnover.

ESSENTIAL DATA

Employee's classification: _____________

Employee's hourly pay rate:___________

Employee's supervisor pay rate:_______

Corporate office staff pay rate (may be an average): ___________

HARD COSTS
Pre-Departure
Separation processing
Administrative time
Hours _____
x Wages $_____
= $________
Vacancy Costs
Coworker burden
Overtime; Added shifts
Hours _____
x Wages $_____
= $________
Hiring search firm or temp. agency
Hours _____
x Wages $_____
= $________
Developing advertisement(s)
Administrative time
Hours _____
x Wages $_____
= $________
Placing advertisement
Cost of advertising space(s)
Hours _____
x Wages $_____
= $________
Selection and Sign-On
Interviewing
Hours _____
x Wages $_____
= $________
Reference checking
Hours _____
x Wages $_____
= $________
Drug testing/psychological testing
Hours _____
x Wages $_____
= $________
Orientation & OJT
Hours _____
x Wages $_____
= $________
Total "Hard Costs" of Turnover
= $________
SOFT COSTS
Pre-Departure
Lost productivity of departing employee
Exiting employee performance at 50%-75%
Hours _____
x Wages $_____
= $________
Lost productivity of co-workers
Hours _____
x Wages $_____
= $________
Increased time discussing departure and organizational conditions
Increased workload for employees
Hours _____
x Wages $_____
= $________
Lost productivity of supervisor
Hours _____
x Wages $_____
= $________
During Vacancy
Lost productivity of vacant position
Overtime
Added shifts
Hours _____
x Wages $_____
= $________
Lost productivity of supervisor
Time spent filling in
Hours _____
x Wages $_____
= $________
Recruiting administration
Supervisor's time with Schedule changes/overtime
Hours _____
x Wages $_____
= $________
Selection and Sign-On
Lost productivity during training
Replacement requires Support/direction
Hours _____
x Wages $_____
= $________
Lost productivity of co-workers
Existing employees distracted
Hours _____
x Wages $_____
= $________
Lost productivity of supervisor
Hours _____
x Wages $_____
= $________
Total "Soft Costs" of Turnover
= $________
TOTAL COST OF TURNING OVER ONE EMPLOYEE
Hard Costs + Soft Costs
= $________
FORMULA FOR ANNUAL TURNOVER COST
Number of exiting employees ________
x cost of turnover
(hard + soft) $_________
= $________
author: By Joe Escobar


Featured Local Company

BB & T

704-954-2100
8558 University City Blvd
Charlotte, NC
http://www.bbt.com

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