Introduction and overview of the Sparck Calculator and how it can help you complete your Cost Analysis.
The Sparck Calculator is a plug-and-play tool to complete the Cost Analysis for you. To help you get leadership buy-in to launch the #BeHeard Survey (or other engagement strategies), the calculator has been pre-populated with resources, formulas, and data.
Here's what it looks like:
- Each of the fields in the orange box below have been customized with company specific revenue, number of employees, average salary, and turnover rate.
- The values in the blue boxes are then automatically populated.
- The blue box categories directly align with the values on the Cost Analysis.
Tutorial Video: How to Use Cost Analysis and Calculator
Here's a tutorial video introducing you how to use the Sparck Calculator and the different features to help you complete your Cost Analysis.
Sparck Calculator Features
Employee Turnover Calculator
If you don’t have the turnover rate for your organization, we have the formula built in to help you. All you need are the numbers in the yellow boxes (number of employees at the beginning of the year, number of employees that left during the year, and number of employees hired during the year).
We also have the turnover formula here if you would like to see the calculation step-by-step.
Industry Turnover Averages
If you don’t have the information needed to use the Sparck Engagement Calculator, the calculator also provides standard industry turnover rates you're free to use.
Since there are multiple steps for some sections, like absenteeism and turnover, we have a "cheat sheet" on the Sparck Calculator to track the results you need for these more complicated equations. The blue section to the right provides additional insight and clarification with all of the numbers used in the calculations.
- Go back to the Cost Analysis Resource Page to get equipped on everything you need to create, understand, and present your personalized Cost Analysis. This is our Ultimate HR Guide to get Leadership Buy-In!
- Check out the FREE #BeHeard Engagement Survey.
- Present the #BeHeard Survey as an engagement solution to the leadership team.