If you'd like to perform the transaction manually, follow the steps below.
Note: hours per week is assumed to be 38.
Use this calculator to estimate the cost of overtime to your business and whether an extra staff member is a suitable alternative.
[Overtime Rate] = [Average Hourly Rate] multiplied by [Overtime Multiplier].
- [Overtime Multiplier] = [Overtime Rate] divided by [Average Hourly Rate].
[Cost of Overtime]
= [Overtime Rate] multiplied by [Number of Staff] multiplied by [Average Weekly Hours of Overtime].
[Cost of an Extra Staff Member]
= [Average Hourly Rate] multiplied by [Hours per Week].