Tallying the price tag of your employees

03/5/2013 | Intuit Small Business Blog

Taxes, benefits, training and equipment are among the hidden costs of employees, writes Tim Parker, owner of financial content firm ECS, and companies should tally the expense before deciding a permanent worker, instead of a contractor, is the way to go. Parker suggests adding the costs of a worker and dividing that number by the person's base salary. The resulting figure is the multiple, and multiplied against an employee's salary, it will provide an estimate of the total cost of hiring someone.

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