Sparky:
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jsassens:
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11/17/2009 12:41:27 AM EST
I noticed in your commentary you of course have the "basics"... To be someone that is a metric "junkie" I would tell you the basics aren't good enough. The devil is in the details in this world and that comment carries over to total calculation of turnover.. For instance did you know that the average team member (prior to the recession) of the vacancy gave notice in less than 90 days of doing more the work of someone else - in hourly positions its 50% of the time - within 45 days... Do you have productive vs. non productive hours calculated into yur costs? For every hour your interview team is with a candidate is a "non productive hour". Thus to calculate non productive hours (#candidates x # interviewers x # of interviews (some candidates come in or phone screen more than once) x salary of interviewers = cost of non productive hours for a single hire). Do you have the variation on time to maximum productivity included? The loss of productivity calculated? Even if the person you are replacing counted paper clips all day -they did it at a better rate than the new hire and there is a cost associated in the productivity delta between the two. These are just some issues to think about when you are trying to do a simple cost of hire or employee turnover calculations.. Its not as simple as salary x 2 as some organizations will quote.. its far more costly and it's not until the corporation values the value of its employees - associated metrics are meaningless
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