| |
ESTIMATE |
ACTUALS |
| PAY
RATE (assumed employer tax %) |
$8.00 |
|
| Employer
tax – FICA (7.65%) |
$.61 |
|
| Employer
tax – FUTA (.008) |
$.06 |
|
| Employer
tax – SUTA (3%) |
$.24 |
|
| Employer
tax – Workers’ Comp. (8%) |
$.64 |
|
| Total
Hourly Costs |
$9.55 |
|
| Patrick
Staffing Hourly Costs |
$11.60 |
|
| |
|
|
| Your
Current Employee Costs (per year) |
|
|
| Gross
Payroll (one employee) |
$16,640.00 |
|
| Employer
Taxes (18.66%) |
$3,105.02 |
|
| Estimated
Overtime Costs (10 hrs/mo.) |
$1,440.00 |
|
| Health
Insurance Benefits per month ($75/mo) |
$900.00 |
|
| Retirement/Pension
Costs (3% of payroll) |
$460.80 |
|
| Vacation
Days (10 days paid) |
$640.00 |
|
| Holiday
Pay (6 paid) |
$384.00 |
|
| Sick/Personal
Days (3 days paid) |
$192.00 |
|
| Severance
Pay for Replaced Worker (1 week) |
$320.00 |
|
| Advertising & Recruitment
Costs (2 ads) |
$600.00 |
|
HR/Management Time for Hiring (4 hours) |
$120.00 |
|
| Drug
Testing (1 test) |
$45.00 |
|
| Background
Check (1 check) |
$25.00 |
|
| Administration
Costs – New employees |
$665.60 |
|
| Training
Costs |
$960.00 |
|
| Equipment,
Uniforms, and Gear |
$200.00 |
|
| Other
up-front costs |
$100.00 |
|
| Payroll
Administrative Costs |
$520.00 |
|
| Employees
not showing up on time or at all |
$7,200.00 |
|
| Not
enough employees to meet increase in business |
$3,600.00 |
|
| No
one to fill in for fired/laid off employees |
$3,600.00 |
|
| No
one to fill in for employees who unexpectedly quit |
$3,600.00 |
|
Percentage
of wages paid to employees spent during
Factory down time (%) ** |
10% |
|
| Not
enough business volume to keep workers busy (%)
** |
15% |
|
| Total
Employee Costs |
$45,317.42 |
|
| Patrick
Staffing, Inc. Costs |
$24,128.00 |
|
| Savings |
$21,189.42 |
|
| Savings
X 10 employees |
$211,894.20 |
|
(**
= yet to be determined)
|
|
|
| << Back to Services |
|
|
