National InsuranceĮvery employer has to pay towards their full-time employees’ National Insurance (NI). Government figures put the average bonus payment as 6% of total pay.Įstimated cost: £1,656. Not all companies pay bonuses, but many are starting to come around to the idea as a way of rewarding good work and boosting employee retention. UK Government figures put the average salary at around £27,600. And while it very much depends on what sort of experience you’re looking for, what level you’re hiring at, and the contract specifics, you can assume it’ll be in the tens of thousands of pounds. This usually costs around £200-£400 if you use LinkedIn and one job site. Or you could do it yourself on social media and job sites. You can use a recruitment agency, which can cost around 20-30% of the final salary – on an average salary this would be over £5,000. ![]() ![]() Recruitment costsįirstly, you need to get the right person. ![]() And while you might think you’ve budgeted for this, with their salary covered in your figures, there are a number of additional costs you need to factor in when adding to your employee roster. If you’re running a small business, at some point you’re going to need to hire someone. ![]() Here’s a breakdown of the costs you can expect when bringing someone new into your team. Hiring a new staff member costs more than just their salary.
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