Optimizing Business for a Brighter Future
The Johnsons own a small marketing agency. They were uncertain if hiring another full-time employee was financially viable, especially with escalating college tuition costs for their three children and the need to maintain their retirement contributions. They needed a clear picture of the true cost-benefit of expansion versus maximizing current employee output and benefits.
By using the FTE Calculator, The Johnsons realized that instead of hiring a new full-time employee at a cost of $90,000 (salary and benefits), optimizing their current team's workload and offering strategic performance-based bonuses (costing $45,000) could achieve similar results. This $45,000 difference could then be strategically allocated towards their children's college funds.
The FTE Calculator was used to compare the cost of a full-time employee against various part-time and contract labor scenarios, factoring in benefits, taxes, and overhead. The Agent Labor Arbitrage Calculator helped determine the optimal blend of onshore vs. offshore talent.
$45,000 annually redirected towards college savings, compounding over 7 years (until their youngest child starts college), potentially resulting in over $350,000 in additional college savings.
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