Thursday, May 31, 2012
Tuesday, May 29, 2012
How to Calculate Labor Cost
How to Calculate Labor Cost
This is almost 100% incorrect...what about payroll taxes, workers compensation insurance and risk management, payroll and administrative costs, the cost of benefits, the cost of turnover?
Thumbnail: Add 15% on top of whatever the hourly rate is for taxes and administrative costs. Add anywhere from .25% to 40% depending on workers comp/risk of the job. Add another 5 - 15% for cost of benefits...if you go lower, then the cost of turnover goes up.
This is almost 100% incorrect...what about payroll taxes, workers compensation insurance and risk management, payroll and administrative costs, the cost of benefits, the cost of turnover?
Thumbnail: Add 15% on top of whatever the hourly rate is for taxes and administrative costs. Add anywhere from .25% to 40% depending on workers comp/risk of the job. Add another 5 - 15% for cost of benefits...if you go lower, then the cost of turnover goes up.
Subscribe to:
Posts (Atom)