Struggling to budget your benefits costs? Use our calculator to estimate how much different offers will cost your business.a computer screen displaying a budget overview overlaid by a calculator Compared to the tough decisions companies have to employee contact list make every day, offering employee benefits is almost a comforting no-brainer. Either you have to because the law requires it, or you're strongly encouraged to because 97% of workers say their benefits are important to how they feel about their job and workplace.However, how to employee contact list budget for employee benefits costs is less obvious.
Offering employee benefits is an increasingly expensive proposition for businesses (benefits costs for employers have increased 368% over the employee contact list past 14 years) and complicated. You cannot predict with absolute certainty who will join and pay for voluntary benefits, or how much allocated PTO workers will actually use.It's a balancing act like no other in getting the numbers right, but it's one that can be made much easier with the right knowledge and resources at your disposal.With that in mind, let's take a look at the four main categories of employee benefit costs before leaving it to you to employee contact list estimate.
Your annual employee benefit costs using our handy calculator.The 4 main categories of social chargesIf we wanted to employee contact list , we could really get into the weeds with benefit costs. That company-branded t-shirt you give new hires on day one is technically a “perk,” right?For the sake of simplicity, let's focus on the four largest categories of employee benefit costs, according to employee contact list the US Bureau of Labor Statistics (BLS): pension, insurance, paid vacation, and supplemental compensation.Here's how those costs break down for an average business: A pie chart showing the major benefits costs for employers.Let's go through these categories one by one.