Based on your feedback, Business & Legal Reports, Inc. (BLR) has added a new Time Savers Benefits Calculator for all our Compensation.BLR.com subscribers. This new calculator allows you to plug and play with a mix of different types of mandatory and/or voluntary benefits.
Analyzing the mix of benefits helps managers see the big picture of employee compensation, including fixed costs such as salary and mandated benefits versus variable costs like medical, dental, and other voluntary benefits. Understanding the components can help managers develop strategies for reducing costs.
This calculator gives you information about the relationship of each employee benefit paid to the total salary base, as well as the relative proportion of each benefit to total benefits provided. The worksheet calculates the ratio of total benefits to salaries, as well as the proportion of each benefit to the whole.
Please click here to access: Time Saver Benefits Calculator