As the HR manager you have been asked to provide the senior management team with

Question

As the HR manager you have been asked to provide the senior management team with turnover costs for one high turnover position. Using textbook or available online resources, calculate turnover and analyze the variables involved. Also, identify any other data that might be relevant. Finally,  how have you observed/felt the ramifications of turnover in your workplace/former workplace?

The position is: Machine operator

Number of turnovers (people who left): 85

Average wage: $11.50/hour

Number of employees: 250

Cost of benefits : 33%

Explanation / Answer

Answer:

Turn over rate = 100* Number of employees left the job/ Total number of employees

                    =100 *(85/250) = 33.33%.

Theoretically Turnover cost involves the following,

So approximate turnover cost is,               = 365 days * 8 hours/ day * Wages per hour * 33.33% *No of Employ

                                                              = 365 * 8 * $11.50 * 33.33% * 250

                                                              = $27,98,054/-

Thanks.

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