Kansas City, Mo. (PRWEB) May 23, 2016
The Nonprofit Leadership Alliance, a network of colleges, universities and nonprofit workforce partners working to build a talent pipeline for the nonprofit sector, recently launched a free online tool that enables nonprofit organizations to determine the true costs involved with employee turnover.
“We know that a team of highly-skilled employees can be the greatest asset bolstering a nonprofit organization’s ability to achieve its mission,” says Susan T. Schmidt, CNP, president of the Nonprofit Leadership Alliance. “With this new calculator, employers are able to understand direct and in-direct costs of employee turnover, which helps them determine hiring strategies.”
The Cost-of-Turnover Calculator© is designed to calculate the costs associated with a departing employee, including the costs involved with filling the vacancy. It is interactive to allow each user to input data specific to the organization and position being evaluated. The results are based on a unique, proprietary set of formulas.
The Bureau of Labor Statistics reports that employees stay with their employers an average of 4.5 years, however, those aged 25-34 years have an average tenure of only 3 years. This confirms the importance of finding candidates who are more likely to stay longer.
The calculator was a follow-up project to the research that LinkedIn conducted in 2014 that indicated that those who receive the Alliance’s Certified Nonprofit Professional (CNP) credential stay employed 50 percent longer in the nonprofit sector and are seven times more likely to reach director or higher level. “We know that there are things that we can do to positively impact employee tenure – the calculator will hopefully help employers understand why effective employee recruitment and retention matter,” added Schmidt.
To access the Cost-of-Turnover Calculator© online, visit https://www.nonprofitleadershipalliance.org/cost-of-employee-turnover/.
About the Nonprofit Leadership Alliance: Since 1948, the Nonprofit Leadership Alliance has worked to strengthen the social sector with a talented, prepared workforce. Its Certified Nonprofit Professional (CNP) credential is the only national nonprofit management certification in the U.S. The Alliance system, which includes more than 50 colleges, universities and national nonprofit partners and 9,000+ CNPs, is the largest network in the country working to build a talent pipeline for the social sector.