HR Tool: Expected Savings from Terminations

 It is not a pretty thing, but sometimes companies get into financial trouble and they can't support their own payroll anymore. Whatever the reason may be, this means people are going to have to be terminated (fired) and to plan that process out, a good financial calculator can help HR make more informed decisions.

$45.00 USD

The template will be immediately available for download after purchase. This is also included in the HR templates bundle.

The template is extremely easy for anyone to use and understand. It is also easy to expand if you need more departments and or more employee slots.

The whole idea is that you want to know the financial impact for the rest of the current year as well as the expected annualized savings moving forward. Those calculations are all done automatically based on a few inputs cells. 

There are two parts. The first is a general 'model' that lets the user enter the following:

  • Department Names (up to 20)
  • # of Headcount Reductions
  • Average Salary (annual)
  • Average Bonus (annual)
  • Average Benefits Cost (annual)
  • Other Headcount Costs (annual)
  • Payroll Taxes (%)
  • # of pay continuation weeks
  • # of cobra continuation weeks
  • Insurance Costs (weekly)
  • Other Separation Costs1
  • Other  Separation Costs2
And the output results will display by department and in total:
  • Total average compensation costs (annual)
  • Monthly Average
  • Weekly Average
  • Expected Savings by Year End
  • Continuation Costs
  • Net Current Year Savings
  • Annualized Savings
The second part is the same exact format, except the user can enter each individual employee detail and their department. This will then roll up into a summary by department that has all the same outputs as the above.

There are visualizations to show the expected annual savings by department as well.

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