Cost etc of employing part time staff?

Cost etc of employing part time staff?

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Discussion

singlecoil

Original Poster:

33,605 posts

246 months

Sunday 26th February 2017
quotequote all
I'm planning to get accounting software that includes provision for wages (which presumably would figure out the tax, n.i. and pension stuff for any particular staff member after entering the number of hours they worked).

Pure guessing at this stage but if I assume each staff hour would cost me about 1.5 times their actual pay, would I be far off the mark? Would it need to be more after allowing for holiday pay?

Flooble

5,565 posts

100 months

Sunday 26th February 2017
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I always used to double their pay to get a figure including provision for stuff like providing a desk, computer, coffee etc. Plus the inevitable dilution of the present team's focus while new people are trained up, the need to keep them trained and the fact that in most businesses there are admin overheads which mean people are not 100% productive etc. (I never figure on more than 60-70% of the week being actual productive work).

But I am a born pessimist.

With part-timers it will be nowhere near that bad as they won't have that much of their earnings in the NI window (I assume, anyway).

MadProfessor

253 posts

132 months

Tuesday 28th February 2017
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My rule of thumb is double the pay for year 1 and 1.5 times for year 2 onwards. But to a little more accurate you could use this:
http://www.accountingservicesforbusiness.co.uk/cal...