Stage 1 (2021) “Headcount Analysis”

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Stage 1 (2021) "Headcount Analysis"

Stage 1 (2021) "Headcount Analysis"

This is an actual case from the Financial Modeling World Cup 2021, Stage 1 (Jan 22-25) competition. It can be used to expand your knowledge of financial modeling and train for future FMWC Stages.

Case description:

ABC Co, a company that manages outsourced call centers, is struggling with high employee turnover. As a data analyst, you are provided with headcount reports from the end of each quarter from 2013 to 2020 and are asked to perform analysis to help the company understand its past employee turnover as well as the impact of certain retention strategies being considered. You are also asked to model the development of ABC’s headcount for the next two years under different assumptions.

The downloadable file consists of the following:
-Task: Excel file with given case assumptions and data for the model; PDF file with Case Materials; PDF file with Questions.
-Solution: Excel file with the full Solution Model; Excel file with an alternative Solution approach; PDF file with correct Answers in Bold.

This model awarded 450 points + 150 Extra points for the bonus question, while the whole 2h Stage allowed to earn 1,150 points in total.

For your questions/suggestions/consideration please reach out to the Organizing Committee of the Financial Modeling World Cup at
You can also buy tickets to participate in the future FMWC Stages at



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