Assuming the cost of an associate leaving within 90 day is $3,000 what will be your facility’s approximate cost of early turnover for this year?

The facility’s approximate cost of early turnover for this year is $45000.

The cost of turnover is the cost associated with turning over one position. This calculation includes the cost of hiring for that position, training the new employee, any severance or bonus packages, and managing the role when it is not filled. Every company will experience some turnover.

Turnover cost refers to expense both tangible or intangible associated with replacing an employee. It is extremely high: it’s estimated that losing an employee can cost a company 1.5-2 times the employee’s salary.

Shift A has number of associated leaving the facility within 90 days is 8, per associated cost is $3000 and total cost is $24000.

Shift B has number of associated leaving the facility within 90 days is 5, per associated cost is $3000 and total cost is $15000.

Shift C has number of associated leaving the facility within 90 days is 2, per associated cost is $3000 and total cost is $6000.

Shift D has number of associated leaving the facility within 90 days is 0, per associated cost is $3000 and total cost is $30.

Therefore

Total cost = $24000 + $3000 + $6000

Total cost = $45000

Hence the facility’s approximate cost of early turnover for this year is $45000.

costof earlyturnoverfor this year is $45000.employee, any severance or bonus packages, and managing the role when it is not filled. Every company will experience some turnover.company1.5-2 times the employee’s salary.facilitywithin 90 days is 8, per associated cost is $3000 and total cost is $24000.total costis $15000.ShiftD has number of associated leaving the facility within 90 days is 0, per associated cost is $3000 and total cost is $30.approximatecost of early turnover for this year is $45000.costhere