Ongoing Employee Cost

Once an employee is on your staff, your company is committed to a wide variety of ongoing expenses. There’s the employee’s actual salary, of course, but too often companies don’t consider the other associated expenses. Whether it’s payroll taxes, worker’s compensation or benefits, the indirect costs of even one full-time employee can be substantial. Benefits, for example, could include a wide range of coverage, including health and life insurance, and even the most basic benefit package typically comes in around several thousand dollars — and that’s a minimum estimate. And there are a number of other costs that may not even come to mind, such as perks that range from coffee to paid vacations. These perks, which employees take for granted, are just one more example of the major ongoing costs associated with each and every employee on your staff.