The true cost of employing people – before you hire, and across your whole team
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A salary is only the start of what an employee costs. On top of basic pay come overtime and bonuses, employer National Insurance, pension contributions, benefits, holiday and sickness cover, training, software, desk space, recruitment fees and equipment. And because people take holidays, bank holidays, sick days and training days, the hours they actually work are far fewer than the hours you pay for. This workbook adds all of that up so you can see the true annual cost of a new hire, what each hour of their work really costs, how much extra you need to sell to pay for them, and what your whole team costs by department and by month.
See how it works
The sheets you will use most, in the order you will use them – shown with the sample data every workbook comes with.
Step 1
The true cost of one employee, with a full cost build-up, hours worked, minimum wage check, chart and workings. What you do: enter the yellow cells for the role.
Step 2
Every employee's cost: NI, Employment Allowance share, Class 1A, levy, pension, benefits, per-head costs, cost per hour. What you do: one row per person.
Step 3
Cost by department and a month-by-month payroll budget with a pay rise. What you do: set the budget start, pay rise % and month.
Step 4
A) employee vs contractor vs agency; B) one full-timer vs part-timers. What you do: enter rates and hours.
Who it is for
Quick start
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