Pls. let me know what are the components which we have to consider at the time of doing mapower costing costing. Regards Poornima
From India, Gurgaon
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1From India, Gurgaon
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Major components of Manpower Costing are:
1. Wage Bill
2. Recruitment Costs
3. Training Costs
4. Employee Welfare Costs - Canteen, Loans, Picnics, Off-sites, etc.
5. Increment/Performance Linked Incentive Costs
6. Employee Overheads Costs - Grade-wise eligibilities like Travel, Conveyance, Reimb, etc.
7. Employee Benefits Costs - Wedding gifts, Anniversary gifts, Long Service Awards, Rewards and Recognition Costs, etc.
Cheers,
Kanishka
From India, Madras
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1. Wage Bill
2. Recruitment Costs
3. Training Costs
4. Employee Welfare Costs - Canteen, Loans, Picnics, Off-sites, etc.
5. Increment/Performance Linked Incentive Costs
6. Employee Overheads Costs - Grade-wise eligibilities like Travel, Conveyance, Reimb, etc.
7. Employee Benefits Costs - Wedding gifts, Anniversary gifts, Long Service Awards, Rewards and Recognition Costs, etc.
Cheers,
Kanishka
From India, Madras
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All the above (and some more too) are calculated and then finally divided by the total headcount of the organization for the year. This gives us the organization's Manpower Cost per employee.
For an Individual Cost to the Company, the TOTAL COMPENSATION PHILOSOPHY states that all these things need to be added to get to the TCTC of an individual.
From India, Madras
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For an Individual Cost to the Company, the TOTAL COMPENSATION PHILOSOPHY states that all these things need to be added to get to the TCTC of an individual.
From India, Madras
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SALARY SHEET CALCULATION.xls