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How do I calculate this? Right after Thanksgiving, PFC accounting firm opened a new branch office in the town with 30 new employees. Based on
How do I calculate this?
Right after Thanksgiving, PFC accounting firm opened a new branch office in the town with 30 new employees. Based on their study on the turnover rate of their 500 employees from other branch offices, they have found that 50 employees left in a year, 100 left in the second year, 250 left in the third year and the rest stay over 5 years. Learning the turnover situation is important for the firm's operational planning. Next 3 years are years 1, 2 and 3. There is a turnover cost for each person who leaves, such as the costs of recruiting, new employ training, interview, etc. The study shows that on average, this cost is $8,000. However, the cost is expected to increase to $9,000 for year 2 and $10,000 after year 2. Simulate the turnover situation of these 30 new employees and the resulting turnover costs from these 30 employees over next 3 years. Show your simulation result in the area of B13:C42 where the Excel formulas should be contained in the cells. The simulation result should change as soon as the worksheet is triggered to resimulate the turnover situation. 10 11 Employee Departure year: year 1, Turnover cost from the year 2, year 3, or after employee within next 3 12 13 14 15 16 17 18 19 20 21 22 24 25 26 27 28 29 30 31 32 34 35 37 38 39 40 41 42 43 year 3 ? years 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
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