Do you know the actual value of benefits offered to your staff?
Maybe you should.
Maybe your staff should.
If you have been looking for a way to calculate the value of benefits offered for your staff, here is an option found on the MGMA Community.
Just click the download button to view the spreadsheet.
The “how to” instructions are below.
It’s basic, but the employees seem to really like it.
1. Use the + to add a tab for each employee.
2. Rename each tab to your employee’s names.
3. Copy and paste the content from the ‘Employee A’ tab to the rest of your employee tabs.
4. Update the DATA INPUT tab with the amount your clinic pays for each employee on a monthly bases (this info will pull into the employee’s individual tabs).
5. In each employee tab, input the amount you pay monthly for Life Insurance (if you provide that benefit) in column B.
6. In each employee tab, modify as needed, the number of days you give for PTO, Holiday & the Retirement % (you’ll need to update both the description and also the formulas in column C).
7. Add or remove benefits as it applies to your clinic and employee.
I hope you find this to be helpful!
Connie McVein, Chief Executive Officer
Oregon Neurology, Springfield OR