| Salaried payrolls per year |
24 |
Assumption |
Assumes biweekly |
| Hourly payrolls per year |
52 |
Assumption |
Assumes weekly |
| Average salary |
$40,373.00 |
Bureau of Labor Statistics |
As of December 2009 |
| Average hourly wage |
$19.41 |
Bureau of Labor Statistics |
As of December 2009 |
| Average cost of benefits |
29.2% |
Bureau of Labor Statistics |
As of December 2009 |
| Cost of salaried employee with benefits (per year) |
$52,162.00 |
Bureau of Labor Statistics |
As of December 2009 |
| Cost of hourly employee with benefits (per hour) |
$25.08 |
Bureau of Labor Statistics |
As of December 2009 |
| New hires per year |
10% |
Assumption |
Assumes 10% annual turnover |
| Percentage of employees without personal accounts at Chase who cash payroll checks at Chase |
1% | Assumption |
|
| Does company use Positive Pay? |
Yes |
Assumption |
|
| Does company use Bank Reconcilement? |
No |
Assumption |
Reconcilement is not offered on Chase Commercial OnlineSM. |
| Does company use prenotes? |
No |
Assumption |
Prenotes are not offered on Chase Commercial OnlineSM. Prenotes are non-monetary transactions sent to verify that a recipient's account can receive a payroll payment. |
| Does company physically distribute paychecks? |
Yes |
Assumption |
|
| Does company mail paychecks? |
No |
Assumption |
|
| Does company distribute payment advices for direct deposit? |
Yes |
Assumption |
|
| Does company mail payment advices for direct deposit? |
No |
Assumption |
|
| Does company distribute payment advices by email? |
No |
Assumption |
|