Learn how to calculate employee cost, understand cost variables and additional expenses to consider, and explore strategies to reduce employee cost.
Whether they’ve worked their notice or if their journey with your company took an unfortunate turn that lead to dismissal, an employee is still entitled to receive the remuneration that they have earned whilst working for you, and you will need to calculate their final pay. While the obviou...
Use our Tax Credit Estimator to calculate potential savings. Learn about the Employee Retention Credit (ERC), Employee Recession Tax Credit (ERTC), and more.
Employee turnover rates are measured and evaluated over a set period – typically one year. Businesses often calculate the employee turnover rate for the entire company, but you can also break it down by individual departments, teams or demographics. This can help you plan and budget for specif...
What is employee turnover rate? Let’s start with the first thing we need to be clear about in order to calculate employee turnover in our company: what is the employee turnover rate? The turnover rate is one of thekey metrics of employee engagement. It indicates the rate at which emp...
Calculate the total part-time employee FTE by dividing their hours by the hours worked by full-time employees Add the part-time FTE to the full-time FTE to get your total FTE For example: Your company has 2 full-time employees who work 40 hours per week, and 2 part-time employees who...
Calculate your net income Calculating yournet incomeensures your business can cover expenses before calculating your own pay. This step is crucial to avoid debt or even bankruptcy. First, subtract the cost of your business’s expenses (such as employees’ salaries, rent for your office space, et...
Learn how to calculate and improve employee retention and turnover rates. Discover strategies to boost retention and reduce attrition.
In this case, although there is only one yuan difference in the year-end bonus between the two colleagues, Employee D will end up paying CNY 2,309.10 more in income tax than Employee C and will receive a lower net amount while the company cost remains the same. ...
Adding all other allowances to the basic salary comes out to the total salary received by an employee. So, the basic salary is a fixed amount for a company employee. CTC CTC stands for ” Cost to Company,” which indicates the total amount of expenses a company spends on an employee, ...