Think about it, there are only 6 things that can change an employee's job status: Death, Disability,
Question:
Think about it, there are only 6 things that can change an employee's job status: Death, Disability, Retirement, Voluntary Separation, Involuntary Separation, and Promotion.
For the exercise, you are an HR consultant who has been brought in to work with the company on their HR planning. Think about this as a 3-year planning scenario.
Plug in the following percentages: Death =6%,
Disability = 8%, Retirement = 20%, Voluntary
Separation = 60%, Involuntary Separation = 3%,
and Promotion = 6%. The Growth Rate is
estimated to be 50% over the next 3 years.
Punch the numbers into the spreadsheet and tell us what the results imply for your company.
Questions:
1) Will it be easy to meet the needs or will it be difficult?
2) Describe the situation and discuss your concerns and recommendations - what you think the company should be doing from an HR perspective?
3) What rates are too high and what rates are too low? What should the organization do to lower some of the rates and increase other rates?
4) What rates do you recommend which would be more realistic and help the organization succeed in the long run?
Once you do your analysis in Excel, examine the before and after cost of turnover estimate and the impact on turnover cost using Bonusly's Turnover Calculator
Managing Human Resources
ISBN: 978-0132729826
7th Edition
Authors: Luis Gomez-Mejia, David Balkin, Robert Cardy