As part of the personnel budgeting process, you may need to account for turnover within your organization, whether that’s retirees, terminations, other departures, or the backfilling of those roles. Let’s walk through the process of accounting for turnover together.
Questions to consider:
You need to scope what types of turnover you need to budget for.
- Do you have turnover that occurred at the end or the beginning of your fiscal year?
- Do you have turnover that will occur part of the way through your budgeted fiscal year?
- Will there be an overlap of time for a position as an employee transitions out of that job (i.e., retirement)?
End Dates
An optional End Date can be assigned to each employee. End Dates can be used if someone is leaving the organization or retiring before the fiscal year ends.
When an employee has an End Date, all financial calculations are only calculated through the specified End Date.
Note: Any Filled Positions with an End Date prior to the new budget Start Date will not be carried forward.
Pro-Tip: Utilize Change Position when an employee moves to a new position within the organization (promotion, lateral move, etc.) and you need to either fill their position (create a vacancy) OR end the position and eliminate the position (Leave unfulfilled).
For additional information on changing Positions or adding Concurrent Positions, see our Training & Support Article: Personnel Budgeting - Position Changes and Concurrent Positions
When an employee has an End Date, all financial calculations are only calculated through the specified End Date. End Dates can also be used for changing a position or for retirees.
Pro Tip: You can budget for one-time payouts as part of a retirement package by using a one-time adjustment column to a salary. You can also change the contribution to someone's retirement to match an adjusted contribution by changing the percentage in a scenario.
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