TeamOne Fees.
Direct Hire Fees
Direct Hire fees are an agreed upon percentage of the candidates hired estimated first years annual income.
Fee percentages fluctuate depending on position, terms, account activity/volume, and guarantee replacement period.
Temp Hourly Rates
The Temp hourly rate is a product of pay rate, workers compensation, employer paid taxes, insurances and our mark up.
The formula we use to calculate the hourly bill rate to you, the client:
Temp hourly pay rate + employer paid taxes and insurances x markup percentage.
Example:
The temps hourly pay rate of $10.00 plus (+) 23% of hourly rate for state and federal mandated taxes and insurances including workers compensation cost (Cost of labor = $12.30) x TeamOne markup of 35%* = TeamOne hourly bill rate of $16.60 per hour.
Temp-To-Hire Conversion Fees
One of our most popular services requested is our Temp to Hire. You get to try out and observe the candidate before committing. The *profits from the temping assignment is credited towards the conversion/direct hire fee if there is one.
*Profit is defined as the amount left per hour after TeamOne pays the employee and all employer paid taxes and insurances. The hourly bill rate minus cost of labor (pay rate, employer paid taxes and insurances) equals profit per hour. Profit per hour is then multiplied by number of hours worked by the candidate. This equals the credit amount that is applied towards the conversion fee. The conversion fee is established by the Direct Hire fee that would have been charged if using that method. In many cases depending on the hourly bill rate and length of the assignment, the conversion fee can be waived. The benefit is during the temp to hire period there is minimal risk, exposure and no weekly payroll processing. The best of both worlds!