full-time equivalent calculator

Each of your 15 full-time employees works 2,080 hours per year, which comes to 31,200. Part-time employees inflate staff size and skew headcount calculations. You may have a lot of employees, but they may not spend much time working for you. Project managers and budget analysts use FTE (Full-Time Equivalent) to fte meaning convert part-time employee hours into full-time numbers. When estimating labor and overtime costs, you can use FTE figures to determine if you can afford a new hire. Now add the total number of hours worked by full-time employees to that of part-time employees to get the total number of hours for all employees.

Using the same formula, the number of part-time hours worked amounts to 5,000 hours per year. The chart below displays the number of weekly hours worked with the corresponding FTE under the standard 40 work-week. Employers can use FTE to evaluate their hiring capacity and current payroll, as well as for reporting purposes related to labor laws and employee benefit programs. Volunteers who regularly use a building are synonymous with employees for the purpose of LEED calculations.

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To get FTE for the year, divide the total annual hours worked by 2080, which assumes a 40-hour workweek for 52 weeks of the year. To calculate for the month, divide by 173.33, which is equivalent to 2080 hours divided by 12 months. Individuals must have minimum essential coverage as of January 1, 2014 or possibly be penalized. Now that state health exchanges are open for enrollment, employees that qualify can sign up for these plans.

These employers are called Applicable Large Employers under the Act. The calculator below will determine the number of FTEs in your organization to see whether your organization would be considered an ALE. An FTE 100% is a full-time employee, the one working 40-hour workweeks (also known as an FTE 1.0). Moreover, in the cases of companies with a large number of part-time employees, the FTE helps to know how many part-time employees are equal to full-time employees. The comprehensive healthcare reform law was enacted in March 2010.

EN_How To Easily Calculate the FTE of Your Company

FTE (full-time equivalent) is the unit of measurement that measures the ratio that represents the hours worked by an individual employee within a week, generally from Monday to Friday. After completing the project, you can remove them without any negative effects of the termination of an employee. A company with 100% FTE has the same number of employees working full-time as there are hours in a week . This would be equivalent to a company with 50 full-time employees and no part-time workers. This is dependent on the company policies as few employers might recognize 40 hours/week and above as full-time.

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