Employee costs template
This template drives employee and their department costs, based on a number of attributes by employee and associated drivers.
To use, update with your employees and departments. You can rename the measures and attributes (just delete attributes you don’t want or overwrite with something you’d like to analyze by employee). Then enter the compensation and attributes to drive summary and per employee cost and headcount metrics.
Quick walkthrough:
1-In the Configure time dashboard, confirm the time range (plan for 2 years?) and calendar details.
2-The Configure drivers dashboard is used to plan:
-Benefit rates to calculate cost based on employee’s benefit plan (entered into Employee details).
-Taxes rate (applied to all compensation).
-Bonus payout/profile of amount to be paid to employee (entered into Employee details)
3-Enter employee details (includes title, start and end date, salary, bonus and other attributes to drive cost (bonus, benefits) or for reporting (location, seniority level, skill, deployment impact). There are various report views, summary and detailed, below the input table.
4-Employee analytics includes a table with a variety of headcount and cost views by the location, seniority level, skill and deployment impact attributes. As attributes are renamed and added the views will synchronize.
5-Summary includes costs and headcount analyzed in tables and charts, including average employee costs and headcount compared to full time equivalent (FTE)
Options to expand include:
-Adding your own dimensions and measures for additional planning and analytics power. Measures can be more inputs, drivers and calculations (add commission, overtime, etc) or attributes (employee demographics, using dimension measures).
-Increasing depth of divers (e.g. tax based on tiers of compensation, taxes by state, breaking into taxes or benefits types).
Checkout this video walkthrough:
Get the Employee cost template: https://www.arithmix.com/library/employee-costs-template