How Much Do You Really Save?

So you want to hire an Administrative Consultant but you think you can’t afford it, think again. I will make here an attempt to give you some numbers and then you can make your decision on the basis of cost savings.

The chart below is from the U.S. Bureau of Labor Statistics that lists the employer costs for compensation for each hourly employee you hire for your business. You have total compensation packages that range from $26.66 to $45.28 per hour as of 2015. The next line lists the wages and salaries excluding the total benefits that range from $19.48 to $27.20. So let’s do some math here. If you take the total compensation of $26.66, which is the lowest, and subtract the wages and salaries of $19.48 you get the difference in total benefits paid to each employee on an hourly basis. In this example, $26.66 - $19.48 = $7.18 which is the amount of total benefits. You can multiply the amount of total benefits by the hours the the employee will be working and that can depend from 20 hours part-time or 40 hours full-time. To continue with the example, let’s say $7.18 is what you will pay the employee per hour for benefits. You multiply that by 40 hours because you will need someone in the office full time to assist you. Then multiply by 4 weeks in a month. That will equal an amount of $1148.80 a month! This is the benefits component alone and does not include the wages and cost of other expenses that are to be considered in hiring an employee.

So I ask, what professional or business can’t afford an Administrative Consultant? The value that you gain is priceless.