Employee Cost Calculator
See the full cost of an employee, including salary, payroll taxes, benefits, workers’ comp, paid time off, and overhead. The workbook calculates the fully loaded annual cost, monthly cost, and real hourly rate.
These previews show pages from the files you receive.
Calculator workbook
Contingent Labor Cost and Conversion Workbook
Would moving agency workers onto payroll save money? Compare four staffing options side by side using your own costs, with sources for every default assumption.
The free browser version offers a quick comparison. The workbook adds a multi-role program model, a burden builder for your actual rates, saved scenarios, and a sourced assumptions tab.
$39
- One-time purchase. Editable Excel workbook.
- Your download link appears on the confirmation screen and in your receipt. No account needed.
- Request a full refund within 30 days with one email.
- Licensed for one company's internal HR use. Resale and redistribution are not permitted. Read the license.
Checkout takes place on our store at shop.truestephr.com. Any applicable sales tax appears at checkout before you pay. These files provide general HR information, not legal advice.
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Ready to put your tool to work?
Add a one hour Setup Session, $149
Bring your purchased tool and the situation you are working through. A TrueStep HR practitioner will help you set the inputs, make the first decisions, and identify a practical next step.
See the Setup Session →Where to start
Compare the cost of four staffing arrangements.
See how costs differ between agency staffing, payrolling, direct payroll without benefits, and fully benefited employment.
DecisionControl labor cost
IndustryCross-industry
Files4 PDF guides, 1 Excel workbook
ReviewRead our published standard for how we develop our tools, and what we cover for their scope and limits.
Research and standardsFor the reference behind this tool, read What contingent labor costs: markup, burden, and the conversion math.
Fit
Is this the right fit for your work?
A good fit
- You need to control labor cost.
- You want an Excel workbook you can run again as your figures change.
- You will enter your own figures and want each tab explained.
When to consider another option
- For a quick estimate, use the free Staffing Agency vs Payroll Cost Calculator in your browser.
- For legal or tax advice about your result, consult a qualified adviser.
- For help running the analysis, explore our advisory services.
What is inside
Every file in the download, by name.
Taken from the kit’s own Start Here guide, so what you see here is what you open after checkout.
PDF · readStart Here: a guide to every file and the order to use them.
PDF · printQuick Reference: the whole workbook on one page, including what each tab does, what to enter, and how to read the result.
PDF · readTrueStep HR Product License: what you may and may not do with your purchased files.
PDF · readUsing This Workbook in Google Sheets: how to upload the file and what to check afterward.
Excel · useContingent Labor Cost & Conversion Workbook: 7 tabs: Start Here, Single-Role Calculator, Program Model, Burden Builder, Scenario Compare, Assumptions and Sources, and Notes.
How to use it
What this workbook does
Contingent labor is often a company's largest expense outside payroll, and those workers sit outside HRIS headcount. This workbook compares four ways to staff the same workers: agency billing, a payrolling arrangement with a lower markup, direct payroll without benefits, and fully benefited employment. See the total cost of each option, savings compared with agency staffing, and how quickly those savings cover any conversion costs. The Program Model extends the comparison across every pay band in your contingent program. The Burden Builder replaces default rates with your actual costs. Scenario Compare shows the financial difference between keeping your current arrangement, converting some workers, or converting the entire program.
Your first 15 minutesOpen the Contingent Labor Cost & Conversion Workbook in Microsoft Excel or a free alternative such as LibreOffice. Start Here explains each tab. In the SingleRole Calculator, enter your headcount, hours, weeks, pay rate, and any conversion or severance cost. Then set the markup and burden rates across the four columns. The workbook calculates total costs, savings compared with agency staffing, and the breakeven point below. Enter your figures in the amber cells. The white cells calculate automatically.
Before you buy
Questions about your purchase
Find details about file formats, delivery, licensing, and refunds.
What exactly do I receive?
You receive 4 PDF guides and 1 Excel workbook, all named in the What is inside section above. This is a one time purchase, delivered as a download, not a subscription.
Are these the real screenshots?
Yes. The first image shows the file set, and the second and third show actual pages from the current download.
Can I use the files in my business?
Yes. You can fill in the Excel workbook for your own internal operations and read or print the PDF guides.
What if I need help applying it?
For help implementing this tool, book a one hour Setup Session for $149. For broader HR support, advisory begins with a short request and a written scope at truestephr.com/pages/advisory. For legal questions, consult qualified counsel.
How do I get the files?
Right after payment, your download link appears on the confirmation screen and again in your email receipt. All files arrive as one ZIP. No account is needed.
What do I need to open them?
You can use Excel, LibreOffice on a computer, or Google Sheets in a browser. LibreOffice and Google Sheets are free alternatives. Any PDF reader opens the guides. See download help.
What if it is not right for us?
Email support@truestephr.com within 30 days for a full refund. No form or explanation is required. The full terms are in the refund policy.
Is this legal advice?
No. It is general HR information and a working method. It is not written to any one state unless the page says so. Where a decision turns on the law, use qualified counsel. See what we cover, and what we do not.
Who may use the files?
One license covers the internal HR work of one legal entity. You may edit the files, brand them, and issue them to your employees. Consultants and groups with several entities need the extended license. See the license.
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