Labor Cost Calculator
Calculate the total labor costs for your business including wages, benefits, taxes, and additional expenses. Plan your workforce budget effectively.
Step 1: Employee & Wage Details
Understanding Labor Costs
Labor costs include not just wages but also benefits, taxes, insurance, and other employment-related expenses. These typically add 25-40% to base wage costs.
Step 2: Hours & Additional Costs
Additional Cost Components
Benefits typically include health insurance, retirement contributions, payroll taxes (Social Security, Medicare), unemployment insurance, and workers’ compensation.
Labor Cost Results
Total Monthly Labor Cost
Employee Type Cost Comparison
| Employee Type | Hourly Wage | Monthly Cost | Annual Cost |
|---|
Monthly Cost Breakdown
Labor Cost Formula
Total Labor Cost = (Wage × Hours × Employees) × (1 + Benefits%) + Additional Costs
To calculate total labor cost: Multiply hourly wage by weekly hours and number of weeks (4.33 for monthly). Add benefits percentage, then include any additional monthly expenses.
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