VariablesValuesDetails
GLOBAL VARIABLES
Average Annual Labour Cost (Wages + Other Cost)€ 39.026,40The national Average Labour Cost for selected country from http://ec.europa.eu/eurostat/statistics-explained/images/5/5c/Wages_and_labour_costs_YB2016_V2.xlsx, if not in list than 'wage only' taken from https://en.wikipedia.org/wiki/List_of_European_countries_by_average_wage
PRODUCTIVITY
Productivity gain (conservative: 1 hour/week)2,5%Conservative productivity gain, research show that companies with higher than average employee engagment levels benefit from 21% higher productivity. http://businessjournal.gallup.com/content/163130/employee-engagement-drives-growth.aspx
ABSENTEISM
Workdays per year in your company231Average number of working days in a year minus 20 days holiday and 10 public holidays
Absenteism (average days missed per year)12If no country data, average of reported data taken (=9,1 days); Source: https://www.eurofound.europa.eu/observatories/eurwork/comparative-information/absence-from-work
Absenteism improvement (in days)1,2Assume 10%
TURNOVER
Average Turnover rate15%Assumed rate of staff turnover. This is based on survey data indicating that the average annual rate of staff turnover in employing organisations in the UK is 16%
Percentage of reduction of the original Turnover rate (NOT the new)10%Assumed reduction in the annual turnover of staff
Cost of Turnover60%Eurostat
ONBOARDING
Employee Count Growth (next 12 months)10%Assumed
Turnover rate from new hires (estimated)30%Research shows 30% in the first year
Onboarding: New hire (days to full productivity)90The First 90 Days by Michael Watkins
Onboarding improvement (% improvement to full productivity)10%Assumed