AICPA and CIMA have developed two new tools: the Cost of Losing Talent© (COLT©) and the Cost of Replacing Talent© (CORT©). They have been developed to address an urgent need to measure the cost to companies of losing and replacing talent. Total costs are surprisingly large, come straight off the bottom line, and yet remain largely unknown.
We are still in the information gathering stage, and already have over 400 entries submitted from around the world. By adding your data, you’ll not only be contributing to worldwide research and benchmarking data, but also find out the costs associated with losing and replacing your talent.
Applicability of the models
The COLT© and CORT© models can be used in the private, charity and not-for -profit sectors, where a proxy for EBITDA that is more appropriate for the non-profit sector can be used. The use of these models in the public sector is still being developed and will be available in the future versions.
To learn about what data you need, and how to collect this, view the COLT/CORT guide.