How to Calculate the Real Cost of an Employee

Oct 8, 2015 7:00:00 AM Kathy Dise Small Business

Small Business Essentials is a monthly panel discussion that speaks to the many issues facing small businesses.

Our last session was about coping with the regulatory environment. Tom Finucane, President of Compass Payroll Services, offered an insightful panel discussion on the following topics:

Bureau of Workers' Compensation
Municipal Income Tax Changes for 2016
Employee VS Independent Contractor
Common Law Rules

If you want to stay current or demystify these current employment issues, you’ll want to read Tom’s notes.

Check out the Sample Paycheck Tom provided to calculate the real cost of an employee. Tom encourages employers to add at least 12% to an employee’s pay to determine the real cost of an employee before medical/retirement benefits and training.

Access the Sample Paycheck document to calculate the real cost of an employee.

Written by Kathy Dise

Kathy has over 30 years experience helping small businesses succeed. As a commercial lender, commercialization expert and now as a QuickBooks diamond level advisor, Kathy understands the challenges small business owners face. Her experience helps business owners quickly accomplish their financial goals. As the owner of BudgetEase, Kathy works with clients to develop a plan to efficiently process 1,000s of small transactions so owners can make informed decisions. She lives in Shaker Heights, OH with her husband Ralph and enjoys golf, curling and walking in Cleveland’s fabulous Metro Parks.