Welcome to CAHRC’s HR Calendar Series
The Hidden Cost of Worker Turnover
This month, the Council is promoting two new tools to help you calculate and understand your turnover costs and see how your turnover compares to the agricultural benchmarks for your province and commodity.
The first tool is CAHRC’s Cost of Turnover Calculator which estimates the financial cost of each worker departure. The tool calculates your estimated costs for employee wages and benefits, separation costs, hiring and training costs, and cost of employee ramp-up time. It provides important information on the health of your business. The results of your business’s turnover costs can be downloaded for your records.
The second tool is CAHRC’s Turnover Benchmarking Tool which benchmarks your numbers against other farms in your province or commodity, and lets you find out if your turnover rates are healthy or hurting your business. High rates of voluntary turnover may indicate that you need to change the way you hire or manage your workforce.
To reduce turnover, try these HR management tools: