Employing Staff Costs to expect

Discussion in 'Employment & HR' started by KevG, May 17, 2019.

  1. KevG

    KevG UKBF Newcomer Free Member

    5 1
    Hello,

    I know i should be going to a qualified professional and i will when drafting the relevant contracts, just looking for expected costs.

    My Business is no longer a Side hustle and i'll need to give my staff contracts and get certain insurances etc.

    What should i expect to pay on top of wages in general and is there any unexpected costs i should expect in general?

    I don't particularly want to give 0 hour contracts as i would very much like my staff to have the stability a contracted employment brings although a few of them are in favour due to the flexibility.

    Thanks
     
    Posted: May 17, 2019 By: KevG Member since: Apr 14, 2019
    #1
  2. Mr D

    Mr D UKBF Legend Free Member

    13,751 1,507
    National insurance
    Pension

    You will also be giving them 28 days holiday a year (so factor time off for that into the work they will do) and be a good idea to figure out in advance what sort of notice you will require for them leaving.
     
    Posted: May 18, 2019 at 12:15 AM By: Mr D Member since: Feb 12, 2017
    #2
  3. nelioneil

    nelioneil UKBF Enthusiast Full Member

    599 78
    At the minimum these are typical costs to the employer for employing someone:
    • Gross wages
    • Employer pension contribution
    • Employer NI
    And potentially more, such as SSP, SMP, SPP, redundancy depending on the circumstance.
     
    Posted: May 18, 2019 at 12:17 AM By: nelioneil Member since: Jan 22, 2013
    #3
  4. WaveJumper

    WaveJumper UKBF Regular Free Member

    374 59
    Posted: May 20, 2019 at 10:04 AM By: WaveJumper Member since: Aug 26, 2013
    #4