save on labor costs and get rates

Save 29.14% per month on labor costs

Take a look at this simple calculator that shows all the costs most people forget about when hiring employees. Also note that the “Bill Rate” is an example and your rate will likely be different.

  • Cost Factors
  • Pay Rate
  • Bill Rate
  • Basic Hourly Rate
  • Legally Required Tax Payments (Employer's Share Only):

    Social Security, Medicare, State and Federal Unemployment tax, Workers' Compensation (based on national average of 17.3%). FICA= 7.65%; FUTA = 0.80%; Average SUI = 4.10%; Worker's Comp. = 4.75%

  • Fringe Benefit Payments:

    Holiday and vacation pay, sick leave, personal leave, insurance, bonuses, 401(k), etc. (based on national average of 30.4%). National Average obtained from DOL Bureau of Labor Statistics 2010

  • Recruiting/Hiring Costs:

    Advertising, testing, reference checking, interviewing, hiring, administrative, training. (based on national average of 12.0%). National Average obtained from Staffing.Org Library Article 02/04/2010

  • Training/Orientation:

    Tutorials, training, orientation, skill testing (based on national average of 13.0%). National Average obtained from Staffing.Org Library Article Measuring What Matters 01/21/2010

  • Cost of Termination:

    Unemployment claim administration, severance pay (based on national average of 2%). National Average based on DOL Bureau of Labor Statistics 2003

  • Administrative Costs:

    Payroll processing, W-2, W-4, I-9, Hiring packet, etc. (based on national average of 13%) National average based on staffing industry's average costs

  • Administrative Costs:

    Annual salary increases (based on national average of 2.1%) National Average Based on news release 04/30/10

  • Total:
  • Total Savings (per hour):
  • The cost savings example for each employee is: (per hour)
  • Monthly cost savings for each employee (173.33 hours) of: (per month)
  • Annual cost savings for each employee of: (per year)
  • Enter amount of employees projected:
  • Utilizing 1 employee represents a grand total annual savings of:
  • Note: Additional cost factors can include: legal expenses, absenteeism, non-productive time, downtime, and employee replacements. These factors vary based on client circumstances, but contribute to workforce-related costs.

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