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Employee costs are the total costs associated with employing an individual. Depending on the nation, industry and profession the total costs of employing someone can exceed twice their salary. The following are common types of employee cost.
Recruiting CostsThe direct costs of recruiting an employee.Human ResourcesThe cost of human resources overhead divided by the number of employees. This captures cost related to compliance and administration of employment.SalaryAnnual salary or hourly wage.Payroll TaxesPayroll taxes and social security payments that are paid by the employer based on the employee's salary such as pension, unemployment insurance, medical insurance, disability insurance, maternity and child benefits. These differ greatly by nation, state or province.
BenefitsBenefits that are paid by the employer such as medical insurance, disability insurance, dental insurance, life insurance and pension.IncentivesIncentives such as profit sharing plans, bonuses and stock options.Paid LeavePaid time off including public holidays, vacation, sick days, personal days, bereavement leave, maternity and paternity leave.Training & DevelopmentTraining and development programs including the cost of onboarding.
Office SpaceCosts related to office space per employee such as rent and facility management costs.ConsumablesOffice consumables such as coffee, food and stationery.InsuranceInsurance attributable to employees such as employee liability insurance.EquipmentFurniture, fixtures and equipment such as computers and mobile phones.|
| Type | | | Definition | The total costs associated with employing an individual. | | Related Concepts | |
Business Costs
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