The TWM site is dead. If you click through you will be taken to the Internet Archive site to find an archived copy.
This is the first part of a 3-part analysis of staff attrition (turnover) and absenteeism, their costs, causes and management. Besides being a good general look at the concepts, the article cites various interesting and relevant cost studies. Some summary findings:
– The cost of staff turnover is best calculated as 80% of the annual salary for the job in question. This means that for every case of staff loss, there is an additional 80% hit to the salary bill.
– The cost of absenteeism without replacement by overtime or temporary staff is best calculated as 138% of salary – for the time that the employee is off work.
– The cost of absenteeism with replacement by overtime or temporary staff is best calculated as 212% of salary – for the time that the employee is off work.
Editor’s Note:
Part 2, “Staff turnover and absenteeism – the causes”
The Dean
Source: TheWorkingManager.com
Subjects: Human Resources, Management
