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#Synergy staffing salary update

This value is worked out as: Step 1: the number of hours per year (1976) x availability (0.80) = 1580.80 hours.

Adjusted cost The adjusted cost is the cost for the staff member before any costs for running the office they are located in are applied.

#Synergy staffing salary update

Update this value for a staff member to more accurately work out a base hourly cost value. Availability takes into account that out of the 52 weeks in the year that staff may only work for 43 weeks after taking holidays and medical leave. This is the percentage of the year that the staff member is available to work. Availability Value defaults from financial controls.For example 8 hours per day, 5 days a week is 2080 hours per year. This is the number of hours the staff member could work per year if they didn't take any leave. Hours per year Value defaults from financial controls.Super total The total value that will be paid per year into the superannuation or retirement fund.This value defaults from the financial controls. This is normally a government regulated percentage that each salaried person must contribute to their retirement savings. This is also known as a pension fund, 401K, and Kiwi Saver. Superannuation - on-costs The percentage of the annual package that will be paid into the staff members superannuation fund.If annual package is used as the calculation method, when you type an extras value it is used to re-calculate the fields annual salary and pay rate per hour, and super total.

Extras Enter the value for any extras paid on top of the salary, such as car, mobile phone, internet etc.

Cost settings (Optional - click the drop down to view).

Available for salary, wages, part time, casual, or contractor types (no set cost).

Calculate by options Select if the staff member has an annual package (salary + super + extras) or an annual salary (base salary excluding super) or a pay rate per hour (hourly rate excluding super).Enter the cost of this staff member per hour. Set cost This field is only shown when the 'set cost' type is selected.This defaults to today's date, click into the field to select another date from the drop down calendar. Effective from date Type the date that the costs will take effect from.Staff type Select type of staff member: Salary, wages, part-time, set cost, casual or contractor.Where larger competitors offer size, we inspire confidence and long term engagement through integration, reliability and dedication to providing customized solutions. Reliance Matrix delivers employee benefits, absence management and workforce productivity solutions through the financial stability of a top-rated insurance carrier, the agility and innovative spirit of a Third Party Administrator (TPA), and the daily commitment of thousands of team members across America. There is no better acknowledgment than to brand the Enterprise, among ourselves and to the market, as one solid, dynamic and principled brand:

We are better together, strengthened by our culture. We have prioritized and accelerated synergy to the benefit of our employees, clients, intermediary partners, and the individuals and families we help protect. For more than a century, our companies have proven to be strong and stable organizations with unique attributes in the US employee benefits and absence management markets.