The University of Mellencamp is a private, non-profit academic institution. There are 4 colleges located in the institution. It is located in Northern Luzerne County and sunny state of Pennsylvania. Look at the following statistics:
|
2004 |
2003 |
2002 |
|
|
Undergrad Enrollment: |
5000 |
5500 |
6000 |
|
Graduate Enrollment: |
600 |
550 |
575 |
There is currently 120 Full time equivalent (FTEs) faculty at the University with 10 vacant positions.
The University also employs 1200 support staff and 18 persons considered management.
Review the following:
|
Administration |
Faculty |
Support Staff |
|
|
Turnover per year |
2 |
18 |
65 |
|
Average Hourly Rate |
$55 |
$35 |
$12 |
|
Aggregate benefits rate |
$5 per hour |
Same |
Same |
Considering the following:
Interviewer’s time for new employees is 45 minutes with 20 minutes additional for preparation. For each faculty and administration position 3 candidates are interviewed. For each support staff 2 candidates are interviewed. The interviewer is paid $18 per hour rate.
It also takes HR 30 minutes for each person that is terminated.
What is the cost to the University each year from a turnover standpoint?
What recommendations would you make to decrease cost?
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