Table Of Contents
Editing and adding new contract types
How is the average cost of assignment to a project calculated?
One of Primetric’s functions is the ability to view the staffer’s average hour cost for a specific assignment.
Contract Types in Primetric
This amount varies depending on the Contract Type. Primetric distinguishes two types of contracts:
Employee (contract type) - a person with a fixed monthly salary regardless of the number of logged hours. The Employee contract type includes both employees and B2B contractors.
Contractor (contract type) - a person with an hourly salary based on the number of logged hours.
Editing and adding new contract types
To check a given employee's contract type, log in to the Manager Role Account and go to the People tab.
To edit the contract type of a given employee, you need to…
How is the average hour cost for a specific assignment calculated?
Depending on which type of contract is assigned to the employee in the field above, the average assignment cost is calculated as follows:
For Employee, the average hour cost is calculated based on a monthly salary and scheduled hours during the assignment duration.
Example:
Bob is a full-time employee. In May, you scheduled him for 162 hours. His monthly salary is 5000$. So, the average hourly cost is 5000$ / 162h = 30,86 $ per hour.
For the Contractor, the average hourly cost for a specific assignment is calculated...
You can set hourly costs directly in the assignment creation form.