Employee Benefits

One of the forms of indirect compensation, employee benefits include access to a retirement plans, forms of insurance (health, cancer, vision, dental, and life); vacation and personal time off. Some larger employers provide other forms of benefits especially for individuals involved in management. Most benefits are 100% covered by the employer or the employer agrees to subsidize the cost. For a more in-depth understanding, read: Employee Benefits.

Labor Burden in Construction – Proper Rate Formula

Fixed Costs

Labor burden in construction is a value added on to the respective hourly labor base wage to to determine the total cost per hour for a particular trade or employee. Labor burden rates are used extensively with estimating and recording actual results. The key to labor burden is that the rate is NOT universal. The value is different per company and in some cases per trade/employee. The rate is highly dependent on the various employee benefits provided and the structure of the organization.

Bookkeeping – Estimating Employee Benefits (Lesson 84)

Estimating Employee Benefits

Employee benefits consist of vacation, sick time, retirement benefits, healthcare and other de minimus benefits. As a function of accrual accounting these benefits are estimated and posted as a deferred liability in the accrued payroll section of the current liabilities section of the balance sheet. This lesson explains how to calculate the respective benefits and post this information to the books.

Retaining Stylists In The Salon Industry

Retaining Stylists in the Salon Industry

The constant movement of stylists from one salon to another is actually bad business. How do you, as the owner, prevent or minimize this employee turnover? The answer lies in basic employee desires and needs in comparison to the salon’s needs and priorities.

Payroll – Introduction to Basic Concepts

Payroll

Payroll is envisioned as the simple employer employee agreement related to compensation for services. I often think of this as the simple handshake whereby the employer agrees to pay the employee a set rate per hour of work. This was true a hundred or more years ago, but over time; history and governmental regulations complicated this simple relationship.

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