The Good Jobs Calculator
Making the leap to good jobs can feel financially daunting. The costs of providing good jobs, such as wage or benefit increases, are immediate and easy to quantify, while the greatest benefits, including revenue uplift and cost reduction, are further out and harder to quantify.
To illustrate the possible uplift of a good jobs system, The Good Jobs Institute (GJI), in partnership with NACS, has created a tailored “Good Jobs Calculator” for the convenience store industry. This tool can help illustrate the possible uplift of a good jobs system. Businesses use their own data and customized assumptions about the amount of improvement or uplift achievable, and executives can run scenarios on the bottom-line impact of a good jobs system. In addition to giving an overall “size-of-prize” range, quantifying these benefits can help executives understand what would have to be true—specific improvements in metrics like turnover, shrink, and basket size—to justify a given wage investment in creating a good jobs system.
To use the calculator, have on hand the data listed in the box below. The tool will then take you through the financial modeling exercise.
If you’re interested in learning more about the genesis and methodology of this tool, read the Good Jobs Institute’s HBR article and NACS’s magazine piece on the Good Jobs Strategy. Please reach out to GJI if you have any question about how to use the calculator.
In order to complete this calculator in full, you will need the following data points:
- Number of stores
- Total inside sales
- Average inside square footage per store
- Total number of inside transactions per store per day
- Inside net margin
- Average fuel gallons sold per transaction
- Average fuel gross margin
- Annual cost of goods sold
- Number of store employees (full and part-time)
- Cost to hire (full and part-time employees)
- Annual turnover rate
- Annual merchandise shrink
- Average hourly store employee overtime wage
- Average overtime hours worked (full and part-time)
Fill out the form below to start using the calculator.