On average, participating GROW hotels run a Burden of 19% of Payroll. Hotels with a GOP higher than 40% run a Burden of 18% of Payroll.
Consistency makes Payroll Burden one of the easiest costs to plan for and monitor. This is because these expenses are based on known factors and a re driven by employee wages, number of employees, and benefits you offer.
Separating your Taxes, Benefits, and Supplemental Pay from Salaries & Wages is the key to making sure your costs are in line. You should update your financial reports to reflect these distinct areas so you are able to ensure costs are in line. Some Choice owners have already realized improve in their Worker’s Comp and other Burden Expenses as a result of comparisons.
- National/State Disability Insurance
- National Medical Insurance
- National/State Retirement Contribution
- National/State Unemployment Insurance (aka: FICA, FUTA, SUTA, etc)
- Automobile Allowance
- Child Care
- Contributory Savings Plan
- Dental Insurance
- Disability Insurance
- Expat Benefits
- Group Life Insurance
- Housing and Educational
- Nonunion Insurance
- Nonunion Pension
- Profit Sharing
- Public Subsidized Transportation
- Stock Benefits
- Union Insurance/Pension, and Workers’ Compensation Insurance.
- Paid Time Off