Employee Turnover Columbus OH

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 Columbus.

Local Companies

Popp Russell A
614-471-5557
2844 Johnstown RD
Columbus, OH

Fifth Third Bank
614-239-0844
3011 E Broad St
Columbus, OH

Commerce National Bank
614-583-2200
3650 Olentangy River RD
Columbus, OH

Charter One Bank
614-433-7429
1630 Morse RD
Columbus, OH

Columbus Metro Federal Credit Union
614-239-0210
4000 E Broad St
Columbus, OH

Fidelity Federal
614-759-2630
4650 E Broad St
Columbus, OH

First Community Bank
614-239-4600
4300 E Broad St
Columbus, OH

Amtrust Bank
614-899-4720
2700 E Dublin Granville RD
Columbus, OH

Breakey Matt Ins Agcy Inc
614-471-5000
265 Lincoln Cir
Columbus, OH

Huntington
614-480-8301
110 Regents Rd
Columbus, OH

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

Popp Russell A

614-471-5557
2844 Johnstown RD
Columbus, OH

Save Articles.DirectoryM.net

RSS feed

Bookmark this on Delicious

Bookmark this page