Savings Calculator

Calculations are from March 2023 National Averages from the U.S. Bureau of Labor Statistics.

*Payroll Costs typically includes expenses such as Social Security/Medicare (FICA), Federal Unemployment Tax (FUTA), State Unemployment Tax (SUTA), and Workers’ Compensation. These are mandatory payments that employers make on behalf of their employees.

*Employee Benefits costs encompass various components, including health benefits (medical, dental, life insurance, short and long-term disability), retirement plans/401k contributions, holiday/vacation/PTO (Paid Time Off), and supplemental pay. These benefits are provided to employees in addition to their regular wages or salary.

*HR Resources costs cover activities related to human resources management. This includes talent acquisition (recruitment and hiring processes), orientation programs for new employees, training initiatives, as well as administrative costs associated with HR functions.

It’s important to note that the specific costs may vary depending on the organization, its size, industry, and location.