Archive
By Staff Report
May. 29, 2003
Here’s a formula that the University of Michigan Health System uses tocalculate the cost of a turnover:
| _________________ | average staff salary |
| X________________ | 50 percent replacement cost for 40 days (to fill job) |
| +________________ | the value of eight hours of supervisor time to interview; |
| +________________ | (average staff salary x 50 percent for the first three months, to account for training and reduced productivity); |
| +________________ | 25 percent of lead person’s (trainer) salary for three months. |
| =________________ | total cost of turnover |
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