1. Employee Budget Worksheet: his table demonstrates the cost of a new employee including recruiting and training costs, monthly recurring costs, and optional budgeting for other opportunities a. Fill in your employees names. Include each employee's job title in the same box. b. You spend $100 in recruiting costs for each employee. Write this on your budget c. Decide the amount you will pay your employees and the number of hours each will work. Indicate in the wage/salary boxes if you will offer wages or a salary. For wages, include the hourly pay and calculation of the monthly pay. For salary, include the monthly pay and calculation of the hourly rate. Circle each employee's monthly pay rate. Will you pay all your employces the same amount? Will all your employees work the same number of hours? Consider that lower paid workers are likely to leave more quickly, thus requiring funds to find and train a replacement. Remember to check your state's law for minimum wage requirements d. Will you offer benefits? On your budget sheet fill in S0 for each benefit you will not offer. For benefits you will offer, use the following numbers: health insurance costs $400 per employee per month (you could pay just a percent and have the employee cover the rest); life insurance with $50,000 benefits costs S10 per employee per month: disablity insurance costs $100 per month per employee covered; other benefits, such as vacation time, sick time and holidays are already included in a pay for salaried employees but cost 11.5% of an hourly employee's monthly wages