When you choose to utilize EPL or another staffing agency, your investment (commonly referred to as a bill or charge rate), will be the hourly amount you pay for the services of the temp worker(s).
Your investment consists of 2 components – the pay rate and the mark-up, which totaled together, gives you your total hourly cost. Here’s how it works:
The Pay Rate is the amount being paid to the contingent worker by the staffing agency. Pay Rates are the largest component of the Bill Rate, and plays a significant role in retention, resource quality, and time to fill. The Pay Rate is the #1 factor for enabling a supplier to recruit a resource and provide great service.
Mark-ups are applied as a percentage on top of the Pay Rate and consist of:
|Pay Rate||Mark-up – Pay Rate x Mark-up (ex.40%)||Bill Rate – Pay Rate + Mark-up = Bill Rate|
|$12 an hour||$4.80 an hour||$16.80 an hour|
|The hourly rate paid to a contingent worker by a staffing agency.||Paid to the staffing agency which in turn, submits payable taxes and remittances on behalf of the worker to the government. Remainder covers overhead and related costs noted above.||Total that Client or hiring company pays to the staffing agency. – HST to be added on.|