Contents of this article is applicable to the following users
Tier: ESSENTIAL, GROWTH, SCALE
Platform: Web
Access Level: Owner
We calculate labour cost for Full-Timers (Monthly wage type) and Part-Timers (Hourly wage type) differently.
Do note that Staff's wage rates should be set up first (under My Team) in order to see the labour cost indication.
Full Timers (Monthly)
Full-timer labour cost is estimated by summing up the cost of basic labour hours + overtime hours
Hour Type | Description | Rate | Cost |
Basic | Normal hours of work | Estimated Hourly Rate = Monthly Wage * 12 months / 52 weeks / Weekly Overtime Hour Limit | Basic hour |
Overtime | Hours of Overtime worked | Overtime Rate | Overtime hour * Overtime Rate |
Note:
1 - Normally, Full Timers will be paid their full Monthly wage. To help your team identify and visualize under-utilised labour, the estimated cost is based on the number of hours scheduled; the total estimated cost would be less than their full Monthly wage if you schedule less than their weekly OT limit.
2 - This costing does not take into account statutory payments like FWL or CPF (in Singapore context)
Example
Chow Jia Yi is a Full-Timer (Salaried) and has a salary of $2000 a month, and a weekly OT limit of 40hrs.
Scenario 1 - Jia Yi is scheduled for 7 hours of work in the week
Type | Hour | Rate | Cost |
Basic | 7 | Estimated hourly rate = $2000 * 12 (weeks) / 52 (weeks) / 40 (weekly OT limit) = $11.54 /hr | $80.78 |
Total |
| - | $80.78 |
Based on the calculation table shown above, she is estimated to cost $80 for 7hrs of work scheduled
Scenario 2 - Jia Yi is scheduled for 49 hours of work in a week
Type | Hour | Rate | Cost |
Basic | 40 | Estimated hourly rate = $2000 * 12 (weeks) / 52 (weeks) / 40 (weekly OT limit) = $11.54 | $461.60 |
Overtime | 9 | $10 | $90 |
Total |
| - | $551.60 |
Based on the calculation table shown above, she is estimated to cost $551.60 for 40hrs of normal work and 9hrs of Overtime
Part Timers (Hourly)
Part-timer labour cost is estimated by summing up the cost of different types of labour hours (basic, weekend and event) that they worked.
Hour | Description | Rate | Cost |
Basic | Work on a normal day | Wage | Basic hour * Wage |
Weekend | Work on a weekend day | Weekend Rate | Weekend hour * Weekend Rate |
Event | Work on an event day | Event Rate | Event hour * Event Rate |
Note:
Overtime cost will also be calculated for Part-Timers if Daily/Weekly Overtime limits and Overtime rates are set up.