I enclose a copy of the latest project I worked with to determine the costs incurred to replace employees who leave the Resort. I also attached the underlying data.
As we know, our traffic ratio is about 50% around, and that can not be. We have to do everything we can to keep employees and, if we look at the attached numbers, we know exactly what I mean and why I say that.
I used averages for calculating numbers; that is, I used $ 9.00 as the average hourly rate, and I calculated the annual income of each employee based on the rent. That's why I'm saying my number is a little lower, but it's still overwhelming.
Based on my figures, the ——– resort averages $ 15,739 instead of one person instead of a new employee. Provided that it is on the highest side, I calculated 150% of my base salary. So far, we have lost more than 163 employees, whose total cost exceeds $ 1,282,647. We're only halfway through the year. If this trend continues, by the end of the year more than $ 2,565,294.00 is incurred. This may seem high, but probably on the bottom side.
This does not mean that all employee turnover must be and should be eliminated. However, due to the high costs and the impact on productivity and customer service, the program designed to preserve employees can be easily paid for in a very short time. Without being prepared to beat our competition at all times, it would be a good idea to thoroughly examine the benefits, our policies, and the "intangible assets" that will make our holiday destination work. We have to strive to make people love to work at the ———— resort and we are proud to say that we are the SELECTOR'S EMPLOYEES.
EXPENDITURE ON THE EQUIPMENT OF THE EMPLOYMENT WORKER
NUMBER BASED ON 150% OF BASE NUMBER
1. Expatriation costs (after receiving notice of leave)
- a. Inadequate production of a worker is still in a position but not fully focused on the workplace. b. Cost of the other executives who have an exit exit interview to determine what remains of work, how to do the job, and so on. C. Lost Knowledge, Skills, and Relationship of the Outgoing Employee. d. The costs of training the company are provided by this employee. e. The potential cost of missing customers involves the loss of a lost employee or the negative service fee is affected. f. Employees who are required to complete the start-up work before the exchange is found may be overtime for work.
2. Advertising / Rental Costs
- a. Advertising b. Employment Office c. Internet publishing d. Other forms of notification of position availability e. The duration of the interviews conducted by the management is how to organize $$ interviews, conduct interviews, invite referrals, talk about people's discussions, and send time to candidates who do not get the job. f. The costs of performing pre-work verifications and background checks (these can be done on multiple winning candidates). g. Uniforms, name tags
3. Training Costs
- a. New employee orientation between HR and Head of Department b. In the first 4 weeks, new employees are only 25% productive; working with another senior employee c. 5-8 weeks, the employee is 50% productive d. Weeks 9-12, employee 75% productive e. It is 100% productive for up to 12 employees (up to 12 weeks in some cases)
4. Lost Productivity Costs
- a. As the new person pays full payment during the training period, they still lose more of their productivity. b. The supervisor spent more time in time, checking the job and correcting any errors. (Some bugs are not correct right away and go into dollars on the street.)
- a. Increase in unemployment costs b. Possible Employee Transfer Rate
Source by sbobet