Calculating the cost to your company

Research³ undertaken in the area of calculating turnover consistently identifies a number of costs to companies. The 'EOWA Costing Turnover Calculator' divides these costs into five major areas. 

You can work out the cost of staff turnover for your company by filling in the costs under the FIVE areas: separation, replacement, training, lost productivity and lost business costs. The calculator will automatically guide you through each category, or as each category is optional, you can individually select the ones that apply.

The total cost calculation is made up of an estimate of the hours a task takes, the salary cost per hour, week or per annum, any material costs and the eventual estimated cost to the firm.

3 'Managing Manpower Turnover Costs', H.L Smith and W.E Watkins, Personnel Administrator , Volume 23 #4 (1978); 'Costing Human Resources', Wayne Cascio, PWS Kent (1991); University of Wisconsin Cooperative Extension Centre for Community Economic Development, William Pinkovitz, Joseph Moskal & Gary Green (1997)