Answer:
Turn over rate = 100* Number of employees left the job/ Total number of employees
=100 *(85/250) = 33.33%.
Theoretically Turnover cost involves the following,
Separation cost
Vacany cost
Replacement cost
So approximate turnover cost is, = 365 days * 8 hours/ day * Wages per hour * 33.33% *No of Employ
= 365 * 8 * $11.50 * 33.33% * 250
= $27,98,054/-
Thanks.
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