Outsourced cost to perform the process "report time" per employee paid

This measure calculates outsourced cost per employee paid to perform the process "report time". Outsourced cost refers to the total cost of outsourcing a specific process to a third party, except one-time charges for any type of restructuring or reorganization. Outsourced costs should also include costs for intracompany outsourcing (i.e., reliance on a shared services center or other business entity). The Process "report time" includes [Recording the reporting time of employees on-site. Track working days, salary calculations, holidays taken, number of hours spend in the office, billing hours, etc.]. This Cost Effectiveness measure is intended to help companies understand this cost expenditure related to the process "Report time".

Benchmark Data

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Measure Category:
Cost Effectiveness
Measure Id:
105252
Total Sample Size:
538 All Companies
Performers:
25th
Median
75th
Key Performance
Indicator:
No

Compute this Measure

Units for this measure are dollars.

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(Total cost to perform the process "report time" * Percentage of total cost to perform the process "report time" allocated to external costs * .01) / Total number of employees paid

Key Terms

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Cost Effectiveness

Cost effectiveness measures are those in which two related variables, one of which is the cost and one of which is the related outcome related to the expenditure are used to determine a particular metric value.

Full-time Employee, Part-time Employee, and Temporary Employee

Full-time Employee

For the purpose of this survey, a regular full-time employee is hired for an indefinite period of time and is normally scheduled to work forty hours per week. Appointment is continuous, subject to satisfactory performance and availability of funding.

Part-time Employee

For the purpose of this survey, a regular part-time employee is hired for an indefinite period of time and is scheduled to work less than forty hours per week.

Temporary Employee

A temporary employee is employed for a finite period of time, to fulfill a time-limited role, or to fill the role of a permanent employee who is absent from work. The length of time an employee can work for the organization and be considered a temporary employee may be governed by employment legislation.

Measure Scope

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Cross Industry (7.2.1)

  • 9.5.1.1 - Establish policies and procedures (10853) - Developing policies and procedures for the HR function to calculate compensation.
  • 9.5.1.2 - Collect and record employee time worked (10854) - Tracking billing hours of each employee on daily basis.
  • 9.5.1.3 - Analyze and report paid and unpaid leave (10855) - Tracking leaves allowed and taken by employees.
  • 9.5.1.4 - Monitor regular, overtime, and other hours (10856) - Observing the number of hours worked by an employees on daily basis. Track the number of hours worked by an employee, as well as the number of hours worked beyond normal working hour's according to company standards.
  • 9.5.1.5 - Analyze and report employee utilization (10857) - Monitoring the number of productive hours for employees.