Human Capital Calculator Input Worksheet
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Turnover Analysis
The goal is to identify the cost of employee turnover and the rewards tied to measurable improvements.
Tier 1 - For all salaried positions (other than executives and physicians)
Tier 2 - For non-salaried/hourly positions
Tier 3 - For executives and physicians
Turnover Reduction Goal Guidelines
Based on data summarized from over 30 case studies and 11 research papers published over a 15 year period by Heather Boushey and Sara Jane Glynn at the Center for
American Progress, the following costs of turnover as a percentage of annual salary (aka Turnover Expense Rate %) were revealed by category.
Turnover Expense Rate
Tier 1: 21% of Average Annual Salaries
Tier 2: 16% of Average Annual Salaries
Tier 3: 150-213% of Average Annual Salaries (182%)
Turnover Expense Rate
Tier 1: 21% of Average Annual Salaries
Tier 2: 16% of Average Annual Salaries
Tier 3: 150-213% of Average Annual Salaries (182%)
Labor Cost and Employee Engagement Analysis
Employee engagement estimates based on Gallup polling data of 6,976 adults working for employers
Actively Engaged: 31.5% (enthusiastic, committed, productive, innovative)
Not Engaged: 52% (checked out, sleepwalking through the day)
Actively Disengaged: 16.5% (destructive, disruptive, hostile)
Actively Engaged: 31.5% (enthusiastic, committed, productive, innovative)
Not Engaged: 52% (checked out, sleepwalking through the day)
Actively Disengaged: 16.5% (destructive, disruptive, hostile)
Workers' Compensation Analysis
Shrinkage/Employee Theft Analysis
Sales and Client Retention Analysis:
Annual Sales Revenue ($):
Goal/Desired Improvement in Revenue Generated
(New Account Acquisition and Client Retention) (Ex - 15%):
(New Account Acquisition and Client Retention) (Ex - 15%):
Results Report
IMPROVEMENT OPPORTUNITY
$0/year
$0/year
REDUCE TURNOVER COSTS
Improvement Targets and Projected Savings
Improvement Targets and Projected Savings
$0
PER YEAR
Current Cost: $0
0% Improvement
REDUCE LABOR COSTS
Increase Labor ROI
Increase Labor ROI
$0
PER YEAR
Current Discretionary Effort: 0%
Projected Discretionary Effort: 0%
Total Labor Costs: $0
0% Improvement
WORKERS' COMP
Reduce Costs
Reduce Costs
$0
PER YEAR
Annual Workers' Comp. Claims Cost: $0
0% Reduction
REDUCE SHRINK
Employee Theft
Employee Theft
$0
PER YEAR
Annual Shrinkage: $0
0% Reduction
INCREASE SALES
Client Retention
Client Retention
$0
PER YEAR
$0 Annual Sales (Net)
0% Projected Improvement
REDUCE TURNOVER COSTS
Cost of Turnover
*Turnover rates based on data summarized from over 30 case studies and 11 research papers published over a 15 year period by Heather Boushey and Sarah Jane Glynn at the Center for American Progress.
Tier 1 - For all salaried positions (other than executives and physicians)
# of Employees Lost
* Avg. Annual Salary
* Turnover Expense Rate
Total
0
X $0
* 0%
$0
Tier 2 - For hourly/non-salaried positions
# of Employees Lost
* Avg. Annual Salary
* Turnover Expense Rate
Total
0
X $0
* 0%
$0
Tier 3 - For executives and physicians
# of Employees Lost
* Avg. Annual Salary
* Turnover Expense Rate
Total
0
X $0
* 0%
$0
Total Turnover Cost =
$0
Total Turnover Savings =
$0
STRATEGIES
1. Improve “Job Match” when hiring (skill, attitude, behavior)
2. Improve retention (minimize conflict and drama)
REDUCE LABOR COSTS / INCREASE LABOR ROI
Percentage of employees:
- Actively Engaged: 31.5% (enthusiastic, committed, productive, innovative)
- Not Engaged: 52% (checked out, sleepwalk through the day)
- Actively Disengaged: 16.5% (destructive, disruptive, hostile)
*Estimates based on Gallup polling data of 6,976 adults working for employers
For all employees:
CURRENT Discretionary Effort Average 0% X Annual Labor Cost $0 = $0PROJECTED Discretionary Effort Average 0% X Annual Labor Cost $0 = $0
Projected Labor Resources
- Current Labor Resources
(Additional Labor Savings/Resources Available)
$0
-$0
$0
STRATEGIES
-
Maximize “discretionary effort” and “engagement“ of employees
- Minimize conflict / drama in the workplace
- Put the right people in the right positions (“the right seats on the bus“)
- Identify and fill gaps between what a person brings to the job and what is required by the job in terms of skil, attitude, behavior and relationships with supervisors.
- Identify, hire (and retain) employees with an exceptional work ethic (so more work gets accomplished) and avoid hiring / retaining individuals with a poor work ethic.
- Identify, hire (and retain) employees who are reliable, show up for work and arrive on time so you don’t have to pay others overtime costs to cover for them.
Projected Labor Savings = $0
REDUCE WORKERS COMPENSATION COSTS
*Estimates based on data published by Sedgwick Claims Management
Annual Cost of Work Comp.
X % of Projected Reductions
= (Projected Savings)
$0
X 0%
$0
STRATEGIES
- Reduce the number of legitimate incidents that are tied to substance abuse.
- Reduce fraudulent claims made by individuals lacking integrity and/or work ethic.
- Reduce unnecessary extension of benefits tied to exaggerated claims.
Projected Workers Comp Savings = $0
REDUCE SHRINKAGE / EMPLOYEE THEFT
Annual Cost of Shrinkage/Employee Theft:
$ Annual Shrinkage
X % of Projected Reductions
= (Projected Savings)
$0
X 0%
$0
STRATEGIES
- Solve theft problems before they occur. Identify, hire and retain honest employees who don’t steal or cover for others who do.
Projected Shrink Reduction Savings = $0
INCREASE SALES / CLIENT RETENTION
$ Annual Sales (Net)
X % of Projected Improvement
= (Projected Increase)
$0
X 0%
$0
STRATEGIES
- Get more new clients faster. Identify, hire, retain and maximize the discretionary effort of top performing salespeople (match the job, have integrity, work ethic, etc.)
- Keep existing clients happy and longer. Identify, hire, retain and maximize the discretionary effort of top customer service representatives (match the job, have basic skills, integrity, work ethic, etc.)
Projected Sales & Client Retention Increase = $0
SUMMARY OF SAVINGS
REDUCE TURNOVER COSTS
$0
REDUCE LABOR COSTS / INCREASE LABOR ROI
$0
REDUCE WORKERS COMPENSATION COSTS
$0
REDUCE SHRINKAGE / EMPLOYEE THEFT
$0
INCREASE SALES / CLIENT RETENTION
$0