The Cape Verde Recruitment Cost Calculator provides a "True Cost of an Employee Calculation" for the first year of employment when factoring holistic employment and startup costs. The calculator is designed to provide insight into the full costing model for employing a new employee in Cape Verde and, together with iCalculator™'s Cape Verde Payroll calculator for 2024, provide the gross employment costs of your current staff in Cape Verde, help you budget employment costs in Cape Verde for your financial year, anticipate staff costs for future expansions in Cape Verde and review past costs in order to gauge future employment costs in Cape Verde.
Understanding the calculations behind the Cape Verde Recruitment Cost Calculator 2024
Whether you are the Director of a multi-million organisation, setting up a new company in Cape Verde , or have a business venture in Cape Verde, knowing where your money goes and how much you spend on employment resources is essential. Staff costs in Cape Verde are one of the biggest expenditures for a company, but it isn’t just wages that cost the business money, there are additional expenditures, known more commonly as 'on-costs' or 'onboarding-costs'.
Calculating the true cost of an employee in Cape Verde can seem very complex but, as with most financial calculations with multiple elements, they can each be placed into simple cost buckets which allow us to provide a simple working formula:
tce = sc + bc + oc + fc
where:
- tce = The True Cost of an Employee in Cape Verde
- sc = Salary Costs in Cape Verde
- bc = Benefit Costs in Cape Verde
- oc = Onboarding Costs in Cape Verde
- fc = Facilities in Cape Verde
Each of these costs includes a number of sub elements which are defined within the calculator where you can enter specific amounts or a percentage rate for benchmarking expenditure. Please review the supporting guide "Calculating the 'True Cost of an Employee in Cape Verde' in 2024" which explains the associated costs computed within this calculator.
The True Cost of an Employee in Cape Verde Calculator is similar to the Cost Per Hire Calculator with the addition of live income tax and salary deductions for an employee working in Cape Verde in 2024.
Cape Verde Cost of Employment: Tax Years available
We currently support the following tax years for employee cost calculations in Cape Verde, if you require additional tax years, please get in touch and we can add them to the list of available tax years.