How much does each employee cost your business? The answer to this question is definitely not as simple as calculating the number of proposed hours of work multiplied by the rate of pay.
QuickBooks TSheets has a great calculator you can use before you make a salary/benefits offer to a potential hire and before you offer any additional benefits to existing employees.
This information is important for employees too. Often, they don’t consider how their work habits affect a business’ bottom line. Do not be afraid to let them see this worksheet upon completion! It’s eye-opening.
Source: CARES Consulting Network