A very big misconception that many entrepreneurs face in this time and age is the fact that hiring is more expensive than it seems.
It’s not just “I just pay them X amount per month”, there are several factors that go into hiring including,
- Small business owners can end up spending around 40% of their working hours on tasks that do not generate income, such as hiring.
- According to Glassdoor, companies averagely spend 52 days to fill a position.
- An employee that is paid a base salary of $50,000 per year costs the employer anywhere from $12,000 to $20,000 per year as an additional cost taking tax and insurance expenses into consideration
- Full benefits cost 38.8 percent of the salary of an employee
The average salary of a US citizen is around 50k per year. So if we do the math, the average employee costs an extra 30k outside of the salary not to mention paying in-house recruiters and background checks
I hope this article has given you value and gives you some ideas on how you can utilize this for your business. If you’d like to see how something like this would fit into your business, do not hesitate to contact Omer Mutaqi at:
678–666–0333 EX 302
I also can be emailed at: