As a Central Florida business owner, there’s a good chance you’ve considered hiring an extra employee to help with the growing workload. While having additional hands on deck can certainly benefit just about any company, it’s important to bear in mind the costs that are associated with hiring and keeping an employee.
The most obvious expenditure is salary, but the financial implications of hiring extend far beyond that surface number. From administrative costs to healthcare benefits and paid time off, it can sometimes be tough to determine the true cost of adding an employee to the payroll.
That’s the bad news. The good news? At KB Staffing, we can help you slash those overhead costs and streamline your expenditures. Here’s how.
The Real Cost of Hiring
When you’re focused on growing your team, you’re likely more than well aware that a new team member will bring with them so much more than just expertise — in a good and bad way.
From medical and dental insurance to retirement savings plans and other employee benefits, these all cause the cost of hiring to creep up.
There’s also the chance that your new employee might not work out, in which case, separation costs, from severance pay to new hiring resources, will also climb quickly.
Sick Days and Other Hidden Costs
Of course, the expenses don’t stop there. A full-time employee is going to get sick or injured – this is almost a given. They’ll need paid time off, or, in some cases, worker’s compensation.
Overall, the cost of employing an extra setting hands goes well beyond the dollar amount you pay per hour or year. The most conservative estimates say that you should plan on paying 1.25 to 1.4 times the base salary range per hire for benefits alone.
So if you’re hiring someone at $50,000 per year, you’re really paying closer to $70,000, and that’s before things like taxes, recruiting expenses, office space, and training costs kick in.
Where KB Staffing Shines
Feeling the pressure? Don’t sweat it. KB Staffing provides tailored staffing solutions that offer businesses a way to sail past some of these traditional burdens.
We work closely with businesses of all kinds, from warehousing to construction and even event personnel, in Winter Haven, Bartow, Lakeland, and beyond. We’re Central Florida’s one-stop shop for all things staffing. Whether you’re looking for a day laborer for an immediate project or you need a more permanent fixture for your team, we’re here to provide just what the business demands.
Contact KB Staffing and discover the relief of a cost-effective workforce solution that’s scalable, adapts to you, and, most importantly, allows you to focus on what you do best — running your business.
