StaffIT

Cost of an Employee

As the employer Staff IT will make all the necessary contributions to Social Security, Federal and State employment insurance's, local disability insurance and workers compensation.

In addition to statutory burden, recruiting, interviewing, evaluation and administration of the consultant process our rates cover the following costs:

Administrative
Payroll and Employment

  1. Payroll Processing
  2. Payroll Record Keeping
  3. Issuance of W4's and W2's
  4. Quarterly Reports
  5. Financing of Payroll
Worker's Compensation Management
  1. Claims Filing
  2. Claims Management
  3. Payroll audits
Unemployment Claims
  1. Claims Filing
  2. Claims Management
Billing and MIS
  1. Customized Weekly, Bi-Weekly or Monthly Invoices
  2. Optional electronic billing
  3. Management Information reports (monthly, quarterly, annually)
Personnel Management
  1. Records Management
  2. Compliance with EEO, IRCA, ADA, COBRA
Insurance Costs
  1. Compressive General Liability
  2. Excess Liability

Financial
Mandatory Costs

  1. Employer Social Security 6.2%
  2. Employer Medicare 1.45%
  3. Matched Taxes, Federal Unemployment, State Unemployment
  4. Workers Compensation, Disability 8%-10%

RECRUITING PROCESS

Staff IT takes pride in our thorough recruiting process. Our trained and experienced technical recruiters put each potential candidate through a rigorous process to make sure they are the right fit for you, our valued client.

Below you will find other expenses that are built into our rates and designed to save our clients a substantial amount of money.

Hiring & Turnover

Hiring
  1. Advertising & Marketing Position (Attracting applicants)
  2. Interviewing
  3. Double Phone Screening
  4. Face to Face Interview
  5. Technical Testing
  6. Background Check (7 Year History)
  7. Reference Check
  8. Department of Homeland Security Checks
  9. Drug Testing Upon Request
  10. Orientation

Turnover Costs

  1. Performing Termination
  2. Exit Interview
  3. Unemployment Documentation, Audits & Reports
  4. All Hiring Procedure as stated above
  5. Formal Training
  6. Performance differential: the difference in productivity between those who leave and their replacements
  7. Lost productivity
  8. Cost of additional overtime/workload for existing employees

SHRM, the Society for Human Resource Management, estimated that it costs $3,500.00 to replace one $8.00 per hour employee when all costs -- recruiting, interviewing, hiring, training, reduced productivity, etcetera, were considered. SHRM's estimate was the lowest of 17 nationally respected companies who calculate this cost! (That is over 20% of the persons annual income, for a junior level refill)