Let’s delve deeper into estimating the true cost of employees if you are building a full time inhouse team for internet marketing.
Businesses have two choices when it comes to implementing their internet marketing activities. They can either build a full time inhouse team or they can outsource their internet marketing to a vendor or a few freelancers.
For most businesses outsourcing their online marketing is the best option due to a variety of reasons.
One of the reasons most business owners end up with higher costs than they anticipated when trying to build their own full time team of employees is that, they don’t accurately estimate the costs of such an operation.
One of the costs that are grossly underestimated is the cost of employees. If you are going to take the route of building your inhouse team, you have to know the true cost of employees.
Unlike, most other business owners, don’t just take salaries and a few other benefits into account when calculating employee costs. Below is a list of costs that you should account for when calculating the cost of employees.
Here is a list of costs that you should take into account when estimating the true costs of employees:
- Ads, resume banks, job boards, agencies
- Agency and search firm fees
- Screening and filtering
- Background checks
- Company recruiter costs (including salary and benefits prorated if the recruiter performs duties other than staffing)
- Health benefits
- Referral bonuses paid to employees
- Relocating the employee
- Signing bonus
- Internet and phone connections
- Rental space
- And more
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