#Labor hour calculator free#

However, if all costs are not taken into account accordingly, it can lead to a project being over budget in the end. When bidding a job, it seems simple enough to take an employee’s hourly rate and then use that to calculate what it will cost to get the job done. The cost of hiring and retaining an employee can add up quickly. We encourage you to begin by using this estimator to help visualize your labor burden and then recommend you review the information with your accountant.

#Labor hour calculator free#

This free labor burden calculator is designed to estimate how much you pay an employee over and above their hourly wage by calculating their total hourly burden. By calculating your fully burdened labor cost, it will help you make more informed decisions about managing your workforce and your budget. This includes taxes, insurance expenses and other employee benefits that you are paying an employee while on the clock. To bid smarter means to know the true cost of labor. The key is to locate the hidden costs that organizations overlook. Having a better understanding of the true costs associated with your employees out in the field will help you gain control of job costs and feel better equipped to bid out future jobs.Ĭalculating labor burden can be tricky. To avoid inaccurately bidding a job that could cause you to go way over budget, it is important to consider each employee’s direct and indirect costs by calculating their labor burden rate. Many construction businesses lose money because they don’t correctly calculate the real cost of maintaining an employee. It seems simple, but it’s also easy to overlook. An employee’s pay rate and what you actually pay for that employee are not the same.