This calculator accounts for all the hidden costs that can easily be overlooked and reveal how much do your staff really cost?

 

SwiftERM is a totally automatic email remarketing system, the only one in the world that is! If you’re serious about a like for like comparison between this any other email system begins by including your staff costs to the necessary turnover required for our competitor’s products to even begin to be viable as our equivalent is zero. That is a massive saving, even before you take into account absenteeism, errors and omissions and even malicious intent, none of which concern our users.

 

Below is an example based on a single person on £25k per annum, taxes and rates may vary between countries, it also illustrates what we have omitted to be seen to be fair and open.

 

Working Hours / Hourly Rate
Hours worked per week	37.50
Equivalent hourly rate	£12.82
Annual Costs	Cost £	Running Total £
Wages / Salary & NIC’s
Annual Wages / Salary including overtime / bonuses	25,000	25,000
Class 1 NICs	3,430	28,430
Optional benefits	£	£
Company car	–	28,430
Gym	–	28,430
Health care	–	28,430
Life assurance	–	28,430
Pension	–	28,430
Bonus	–	28,430
Subtotal for NICs calculation	–
Class 1A NICs (P11D)	–	28,430
Employee specific costs	£	£
Software licences	1,500	29,930
Training	500	30,430
Computer & IT support	500	30,930
Apportionment of business costs	£	£
Share of general overheads (rent, rates, building maintenance, water, heat & light, telephone, insurance, etc)	500	31,430
Consumables (stationery, toner, tea/coffee, toilet paper, etc)	100	31,530
Administrative overheads (HR, payroll, secretarial, appraisals, etc)	1,000	32,530
Other financial costs and potential liabilities	£	£
Maternity/paternity leave	–	32,530
Unfair dismissal claims	–	32,530
Redundancy	–	32,530
Jury service	–	32,530
Sick leave holiday pay	–	32,530
TOTAL EMPLOYEE COSTS	£	32,530
Actual productive working days	Days	Running total
Weekdays in a year	261	261
Deduct:
Holidays (2010 minimum is 28 days)	28	233
Formal training	5	228
Sick days	7	235
Wasted/unproductive time (allow 10 mins per working hour)	38	273
The true cost of employee	£	£
Actual cost per hour	£23.66
Actual Cost per day (total costs/working days)	£177.49
Actual cost per year	£46,146.61
Multiple of salary paid:	1.85	times salary
NI Rates 2012 – 2013
Employer’s NI threshold   (£ per week)	144.00
Class 1 NICs:	13.80%

 

We hope you enjoyed this article, intended to help improve our client’s profitability. It reflects the care SwiftERM offer. If you haven’t already done so, then please enjoy a FREE month’s trial and let us know what you think. Register

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