A metric within the Rewards story chapter.
Definition
Headcount Cost shows the total spend of the organization on employees. The total cost is split into different costs due to (1) current salaries, (2) promotions, and (3) new hires. (4) Turnover Cost Deduction is the amount of money deducted due to turnover for a specific period.
Insight to
Since labor cost represents one of the highest operating expenses for any organization, this metric can be compared to the total operating cost to provide an insight into how much of your total operating cost is being allocated to labor cost. To interpret results dismantling what your rate means will heavily depend on your business values, practices and goal
How we calculate this
Total Cost = sum of monthly current employees’ salaries, promotions of current employees, and new hires’ salaries Current Salaries Cost = sum of monthly current employees’ salaries Promotions Cost = sum of salary increases for current employees New Hires Cost = sum of new hires’ salaries Turnover Cost Deduction = sum of salaries for leaving employees
Source data
Extracted from HRIS:
Compensation history effective start date
Compensation history effective end date
Compensation history effective amount
Compensation history effective currency
Compensation history effective period
Employees employment start date
Employees employment end date
Variable payment effective date
Variable payment effective amount
Variable payment effective currency
🚑 Problem with source data? See Data Health 101 for remedies.
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