Human Resources (HR) calculators can be the perfect tools to save you time and energy in your daily human capital management routine. There’s an HR calculator for just about every task you can imagine. And it makes sense: HR covers so many aspects of business relations from training to pensions, all vital to keeping the business running smoothly.
By utilizing these HR calculators below, we hope you can cut costs and ensure your office flows efficiently.
1. Time Card Calculator
Time card calculators supply easy access to an employees’ hours. Simply enter an employee’s start time, end time, and break deduction for each day of the week. This gives you the total time an employee has worked quickly and efficiently.
Keeping track of weekly hours is difficult especially when employees have a lot on their plates. A time card calculator will help you keep track of all your employees’ hours.
2. Employee Absence Rate Calculator (The Bradford Factor Calculator)
An employee attendance calculator used The Bradford Factor , an easy way to assess your employee attendance by measuring the total absences to create an overall weighted attendance of the entire company. The lower the Bradford Factor number, the better your company’s attendance. A high number means it’s time to investigate further
The Bradford Factor, developed by the Bradford University School of Management, is an algorithm that puts a weight on an employee’s number of unplanned absences. This algorithm is based on the idea that unplanned absences have more of a drastic impact on a company than long-term sick leave.
There are plenty of easy to use Bradford Factor calculators free online. Just enter the number of occurrences (unplanned sick days) and the employee’s total absent days and you’ll get your Bradford Factor.
3. Cost per Hire Calculator
The cost per hire calculator, developed by the Employment Management Association, is a tool that’ll show you the most cost-effective way to take on new hires. Simply enter your:
- Advertising cost
- Employee referral cost
- Agency fees
- Relocation costs
- Travel costs
- Recruiters time
- Administrative costs (%)
This will give you the exact amount it costs to take on a new employee.
4. Labor Cost Calculator
Labor costs are arguably one of the largest costs for any organization. It includes not only direct costs like wages, supplies, and commissions, but also indirect costs such as insurance and depreciation. Keeping track of these costs for all of your employees can be a challenge. Fortunately, there are number of online calculators that can assist with this so you can focus on the many other aspects of your HR responsibilities.
5. Payroll Tax Calculator
Figuring out how to calculate payroll taxes can be a hassle. Luckily certain payroll tax calculators can help with that burden. Payroll tax calculators ask for some general and specific information about pay. Just simply fill out the info and you’ll get your payroll tax information is no time.
6. Turnover Rate Calculator
Calculating a turnover rate, the rate at which employees leave a company, is a simple task with a turnover rate calculator. A turnover rate calculator will ask you for certain variables like the total number of employees, number of voluntary terminations, number of disciplinary terminations, number of unavoidable terminations (disability, retirement, etc.), and maybe a few other fields.
The end result is your company’s accurate turnover rate that you can use to promote your company as a great place to work. A low turnover rate means your employees are staying at your company longer and are therefore happy with their job. A high turnover rate can be the result of bad pay, poor employee benefits, or a stressful workplace.
7. Take-Home Pay Calculator
There’s a number of factors that go into your end take-home pay including consideration of federal, state, and local taxes. Take-home pay calculators are available free online. Another benefit of a take-home pay calculator is that it allows employees to see tax deductions prior to filing for taxes. Knowing your tax deduction before April will help you budget out your year and get ahead of the competition.
8. Salary Calculator
Getting salary right is a science, and there are tools out there that will help you perfect that science. A salary calculator can help you decide what exactly you should be paying employees. They consider a number of various factors to ensure you the correct pay for your valued employees.
Pinpointing the correct salary is a great way to make sure employees stay around and produce great work for your company.
These 8 HR calculators are great time-savers. If you’re looking for useful tools to speed up your human resource department or just looking for an easy way to calculate your take-home pay, any of these calculators can help.
At EPAY Systems, we are committed to helping companies of all sizes streamline their HR management systems to save both time and money. If you’re in need of any additional HR tips or are looking for a more efficient HR software, take our two minute tour. EPAY Systems is happy to lend a helpful hand to any human resource service.