| RECRUITMENT STRATEGY |
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1. Job description |
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2. Find job applicants by |
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a. advertising |
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b. internal referral |
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c. recruitment firms |
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3. Review application |
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4. Phone screen application |
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5. Interviews: number of x cost per
interview |
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6. Travel: yours theirs |
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7. Accomodations (HR costs) |
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| Total of Recruitment
Strategy |
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| HIRING COSTS |
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1. Prepare Offer |
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2. Negotiations/Legal
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3. Travel |
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4. Third party recruitment fees |
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5. Employee documentation |
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6. Value of equipment provided (computer, car, PDA,
etc.) |
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| Total of Hiring
Costs |
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| TRAINING |
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1. Travel |
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2. Materials
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3. Relocation |
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4. Productivity Reduction |
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5. Management time |
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| Total of
Training |
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| WAGES and BENEFITS |
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1. Salary and benefits (probationary period) |
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2. Ongoing non productive time
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3. Lost sales revenue |
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4. Lost customer good will |
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5. Lost opportunity cost |
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| Total of Wages and
Benefits |
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| REPLACEMENT COSTS |
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1. HR/Management time |
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2. Councelling (internal)
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3. Legal |
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4. Severance |
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5. Outplacement |
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| Total of Replacement
Costs |
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Total of All Costs: |
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Annual Turnover Cost |
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Total Employees |
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% of Annual Turnover |
% |
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Total Hiring Cost |
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Cost comparison by using assessments |
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Average assessments used per new hire |
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Cost per assessment |
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Assessment Costs are % of the Annual Turnover
Cost. |
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Total Company New Hires per year |
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Total Assessment Costs for All Hiring per
year |
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Expected Savings by Using Assessments
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Reduce turnover by |
% |
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Annual savings would
be |
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