ADMINISTRATIVE COST CALCULATOR - dmDickason
ADMINISTRATIVE COST CALCULATOR
A survey performed by the Society of Human Resource Managers (SHRM) and the Bureau of National Affairs (BNA)* concluded that businesses with less then 250 employees will spend on an average of $1,602 per employee/per year. In time, wages or fees on 55 key HR activities. It was also evident from the survey that the smaller the company, the higher the cost of HR administration per employee/per year. *SHRM-BNA No. 67 July 1, 2002
In a second study conducted by the US Chamber of Commerce, US Department of Labor and the Small Business Administration (SBA) they compiled the following data:
Number of Employees
1-9 10-24 25-49 50+
Administrative Costs 8-12% 4-8% 3-6% 2-5%
Below is a calculator to aid you with determining your company's administrative costs. Please take the following costs into consideration when going through this exercise:
? Time spent by employees conducting these activities multiplied by their rate of pay ? Time spent by the owner conducting these activities multiplied by their rate of pay ? Fees associated by Payroll Service, Worker's Comp provider, Legal advisor, Accountant, Financial advisor etc... ? Fees associated with 401(k) administration, Benefits administration, 125 administration, and Cobra Administration ? Not a single item listed below represents a contribution to your bottom line. You could be spending your time more efficiently on things
that will grow your business and make a profit.
PAYROLL PREPARATION
Cost of time spent to write, sign & posting checks Cost of paychecks Time spent maintaining vacation & sick time Time spent answering payroll related employee questions Cost to prepare tax deposits, 941's, 940's, W-2's Payroll banking costs and/or payroll services
ADMINISTRATION EXPENSES
Deposits for Workers' Compensation Policy W.C. Claims Handling Time & money spent on employee handbooks Time & money spent on safety manual Employee file maintenance Healthcare enrollments Insurance Renewals Plan maintenance COBRA Administration Group health claim forms & questions Unemployment compensation disputes
EXECUTIVE EXPENSES
Cost of time to negotiate W.C. program Cost of time to shop your group health program Employee personnel management W.C. injury history reports Americans with Disabilities Act Compliance Sexual Harassment Policy OSHA Reports and Compliance IRS Compliance and Documentation Wage & Hour Compliance/Documentation
RETIREMENT/PENSION PLANS/401K
Cost of plan documentation/annual qualification Cost of administration/governmental regulations
(Avg. 1% to 4%) __________%
(Avg. 2% to 6%) __________% (Avg. 3% to 7%) __________% (Avg. 2% to 4%) __________%
CURRENT TOTAL ESTIMATED COSTS __________%
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
- avoided cost calculator user manual california air resources board
- if marginal cost is below average variable cost calculator formula sheets
- microeconomics and mathematics with answers
- 4 aircraft operating costs federal aviation administration
- variable compensation as a percentage of total compensation
- levelized cost of electricity calculator a user guide
- calculation of drying costs esf
- reasonable cost calculator idaho
- variable cost calculator spreadsheet
- railroad cost program surface transportation board
Related searches
- mortgage cost calculator interest
- total cost calculator of production
- food cost calculator free
- free food cost calculator excel
- total cost calculator economics
- free food cost calculator spreadsheet
- recipe cost calculator free
- free recipe cost calculator spreadsheet
- recipe cost calculator excel
- college cost calculator by school
- refinance closing cost calculator florida
- gas cost calculator trip