HR Firing Tool: Financial Impact Analysis
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HR Firing Tool: Financial Impact Analysis

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$45.00


It is not something anyone enjoys doing, but when a company is having financial trouble and/or had too many hires too fast, the end result could be employee terminations in mass. This is a financial analysis tool built in Excel in order to let Human Resource managers plan out the cost savings of termination actions by department.

The tool was designed to measure the impact of firing many employees from up to 20 different departments. The user can enter details about salary, benefits, payroll taxes, continuation pay, and any other separation costs. The calculator will then calculate the savings that is to be expected from these actions for the remaining year as well as annualized.

There are two primary output tables.

The first is a high level overview where the user can enter averages for each department and the headcount being terminated in each department to see the resulting financial impact.

The second is a more detailed version where the user enters the payroll details of each employee individually, including what department they are in, and then that is rolled up into a high level summary using formulas. 

Each can be used separately and the only thing the flows to each is the termination date. The template automatically knows the current date using some automated time functions so the user just needs to enter the termination date and then fill out the summary sheets to do the analysis.

Output visualizations will also show the net cost savings by department.

Having more information and more precise financial data will help the manager be more efficient and it could end up saving jobs in the end. More data is always better than less data when doing such analysis and making such actions.

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