Cost Calculator
The UK’s Leading Online
Transcription Services Provider
True Cost of an Employee
Have you ever wondered what is the true cost of an employee?
It is not as simple as just taking their annual salary as the true cost. Businesses bear costs which can often be overlooked. That is why we provide a calculator, so you can see the true cost of an employee to your business.
This calculator is provided to help you identify whether it could be more cost effective to outsource a position with your business, thereby reducing business costs.
DEVELOPED BY STANBRIDGE ASSOCIATES LIMITED, ACCOUNTANTS
True Annual Cost of Employee :
This is equivalent to an Hourly Rate of:
(The hourly rate figure is based upon 250 working days in the year at 7 hours per day. The number of days holiday and sick leave are also factored into the calculation.)
In our experience, on average time it takes to transrcibe a dictation is approximately 4 times the length of the audio file. Based on this here are some comparisons between inhouse and OutSec transcription costs:-
Example A - 15 minute audio
Inhouse cost based on an hourly rate of =
OutSec cost based on standard rates = £ 18
Saving:
Example B - 30 minute audio
Inhouse cost based on an hourly rate of =
OutSec cost based on standard rates = £ 36
Saving:
Example C - 60 minute audio
Inhouse cost based on an hourly rate of =
OutSec cost based on standard rates = £ 72
Saving:
The above OutSec prices were calculated using 'standard' rates, contact us us for further information. In addition to a financial saving with OutSec you will receive a fast efficient turnaround and have no worries around capacity.
Payroll Costs
Employee Benefits Costs
Facilities Costs
Recruitment Costs
Financial Costs
True Annual Cost of Employee :
This is equivalent to an Hourly Rate of:
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