The more clients, the more hours worked.
Below are some definitions to help clear up any discrepancies.
Hourly labor rates: these are based on a wide range of personnel availability and consider all factors including expertise, education, and present location.
Hourly bill rates: these rates are computed from the hourly labor rate. A markup percentage on the hourly labor rate equals the billable rate. Markup percentages include all payroll taxes, holiday, vacation bonuses, Workman's compensation, liability insurance, and unemployment compensation. They also include Corporate Operating expenses such as accounting, recruiting, and administration.
Per Diem: when an assignment is more than fifty miles from their permanent residence, personnel are paid a daily per diem. This must be signed to be eligible. Per diem is not billed to the client (Illinois, 2001).
Solution and Alternatives.
We believe that a time card management system should be implemented to lower costs and be more efficient. This system is intended to cut time also. With this easy to install and easy to learn system you can count on communication and collaboration to be encouraged and business days to increase also. Businesses also have the opportunity to stick with their ordinary system, but that would just create problems. Not keeping up with more efficient ways slows the entire company down and tends to have a domino effect, causing less profit, more expenses, and stressful working conditions.
Criteria.
Criteria was established based on the pros and cons of businesses management systems and our timesheet system. The effects this system, it's benefits and highlights had on our business' reputation was a very large factor we kept in mind. We pride ourselves on this process; we have faith that those who choose it will agree that it saves time, money, and decreases stress.
Evaluating Criteria.
As it was afore mentioned billing rates and chargeable hours are the main focus of this report.
