what is the correct terminology to describe the costs of having employees.?

Question

1.what is the correct terminology to describe the costs of having employees. For example there is salary, vacation, sick leave, breaks, misc. downtime.

2. where could I find an industry standard to calculate what my employees actually cost

Answer 1

Most companies use "Salaries & Wages". They then would break that into something like "worked" and "non-worked" or "productive" and "non-productive".

For question 2. There is no industry standard that will show your actual costs. They are two different things. If what you're asking is for an industry standard cost to compare your actual costs against, here's one ting you should try.

Most states will have economic standards that you can use. I would check your state government homepage for industry standards, labor standards, labor metrics etc.

Answer 2

1. Labor costs or labor expense.

2. You didn't mention the type of industry. Most have trade
associations which may be able to give you a guideline, but
each company will have different costs. Salary, benefits, etc.,
are all associated with labor costs. If these are hourly
employees and one company pays $6/hour and another
$8/hour, then their respective labor costs could be different.
You really need to sit down with a calculator and put
everything down in black and white. Only you know what your
exact employee costs are. As a rule of thumb, most
companies try to keep labor costs at around 30% of revenue.

Answer 3

Labor costs.

Answer 4

Overhead.

Answer 5

liabilities