Employees are expensive and sometimes there are some unforeseen costs. The calculator below has been designed to highlight the additional costs of employment, adding things such as national insurance contributions, helping you to plan ahead.
Have you ever been quoted on an agency fee, only to find that the charge rate is a couple of pounds per hour higher than the employees pay rate? It can seem quite high. The reason for this is because we have to include things such as national insurance contributions, sickness pay, holiday pay and also pension pay. These fees are all legally required to be paid by the employer, so the total amount with all the associated costs added is known as the true cost of employment. Of course, there is also a charge for our services included in the quote you would receive from us.
The calculator below has been designed to highlight the additional costs of employment, helping you to plan ahead for the financial year. Whether you’re looking at taking on a new member of staff, or increasing a current staff members salary, this calcuator will be able to help you. To start calculating the true costs, simply enter the weekly hours your employee works and the basic pay rate you currently pay them. The rest is automatically calculated for you to give the actual hourly rate you pay, with all the legally required costs added.
Sorry, but this cost calculator will not function on a mobile device due to the technology used. Please visit this page on a desktop computer for full functionality.
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There are also many other factors that you may wish to consider when hiring a new member of staff. These include their benefits package, will they recieve a company car, phone or expenses, maternity and paternity leave, bonus payments, training courses, software licenses, additional IT and phone requirements and much more. It is important to take all of these things into consideration when calculating the overall cost of a new employee.
For comparisons on what we charge for our recruitment services, please contact us today and speak to our experienced team. Our fees are completely transparent and we offer a variety of recruitment solutions, all of which can be tailored to your individual business requirements.