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.
Hi
You can make a recruitment cost analysis/recruitment metrics which will give you the cost of mapower. The required fields will be
a) Advertising Cost.
b) Consultant/Placement firm cost -- if hired from them.
c) Referal bonus
d) Recruiter cost.
e) relocation expenses
f) Telephone
g) portal expenses....
regards,
Veena Jain
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 osting only wrt active manpower every month. Does that imply that recruitment costs for the monthly active manpwoer would also be counted.
Dear Veena,
One Simple Method is Sum of Gross Salaries Paid to Your Employees - could be culled from the Pay Roll. If. You need to be precise you may have to add cost of Benefits like P.F. and LTA. How ever, for MIS and Quick Look of Senior Management, this Data should suffice.
Regards
Ravi.B.S.
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