How do we calculate cost of manpower - if we have to do this on a monthly basis what are the head to be included. Is there any formula/format or advice from any of you already working on the same.
From India, Chandigarh
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From India, Chandigarh
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Hi,
You can create a recruitment cost analysis/recruitment metrics that will provide you with the cost of manpower. The required fields will include:
a) Advertising Cost.
b) Consultant/Placement firm cost - if hired from them.
c) Referral bonus.
d) Recruiter cost.
e) Relocation expenses.
f) Telephone.
g) Portal expenses.
Regards,
Veena Jain
From India, Bangalore
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11You can create a recruitment cost analysis/recruitment metrics that will provide you with the cost of manpower. The required fields will include:
a) Advertising Cost.
b) Consultant/Placement firm cost - if hired from them.
c) Referral bonus.
d) Recruiter cost.
e) Relocation expenses.
f) Telephone.
g) Portal expenses.
Regards,
Veena Jain
From India, Bangalore
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Hi, thanks for a quick response, Veena. However, I am handling the non-recruitment profile - employee life cycle. We are looking at carrying out manpower costing only with respect to active manpower every month. Does that imply that recruitment costs for the monthly active manpower would also be counted?
From India, Chandigarh
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From India, Chandigarh
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Dear Veena,
One simple method is the sum of gross salaries paid to your employees, which could be culled from the payroll. If you need to be precise, you may have to add the cost of benefits like P.F. and LTA. However, for MIS and a quick look at senior management, this data should suffice.
Regards,
Ravi B. S.
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One simple method is the sum of gross salaries paid to your employees, which could be culled from the payroll. If you need to be precise, you may have to add the cost of benefits like P.F. and LTA. However, for MIS and a quick look at senior management, this data should suffice.
Regards,
Ravi B. S.
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