Monday, March 14, 2011

Labor Burden

Once a year I print out individual labor burden reports and hand them out.
The reason I do this is that employees often fail to realize that they actually make a lot more than their hourly rate.
You business owners and budget people will appreciate this. It helps keep everyone in check, builds loyalty and reduces complaining and I use it for bids as well.
It's a little staggered but you will get the idea.

Total
AnnualGrossGrossBenBenBenefitNetNetHlthWkrTrkCredBurden
DollarsHrsHrlyDaysHrsDollarsHrsHrlyCareCompCardRate
          100,000 208048.0821168           8,078.00 191252.303.900.502.6012.5071.80
            60,320 208029.0021168           4,872.00 191231.553.900.5037.70
            64,480 208031.0021168           5,208.00 191233.723.900.502.603.8044.52
            31,200 208015.0021168           2,520.00 191216.323.900.5021.62
            47,840 208023.0021168           3,864.00 191225.023.900.502.605.0038.87
            45,760 208022.0021168           3,696.00 191223.933.900.502.603.8039.23
            20,800 208010.0021168           1,680.00 191210.883.900.5015.28
Benefit Days: 10 vacation + 6 holidays + 5 sick days for a total of 21 days
Benefit Hours: 21 benefit days paid at 8 hours per day
Benefit Dollars: Benefit hours divided by gross hourly 
Net Hourly: hours left in the year that employees work
WorkerHolidayVacation
  BenefitBenefitSickHealthLiability401kVacation
LeaveInsuranceInsurance6% matchHolidays
610Illness
5
610

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