- IoT empanada machine CM05i
- Semi-automatic empanada machine CM05S
- Empanadas and arepas machine CM06
- Wheat empanada machine CM07
- Multifunctional empanadas and arepas machine CM06B
- Mixed empanadas and arepas machine CM08
What is the cost of an employee for 2021
What is the cost of an employee for 2021?
The economic and work expectations for the end of the year focus on salary increases, said
incrementos se darán sobre los sueldos mínimos que hoy reciben los colaboradores de las organizaciones y esto generará la nueva cifra correspondiente al cost of an employee.
The negotiations for the increases are framed in the economic processes left by the pandemic caused by covid-19, the efforts of employers to maintain the number of employees during 2020 caused the different economic sectors to see their budgets affected for the accounting period of the following year.
Likewise, the decreasing sales curve, the decrease in the contracting of services, added to the permanent closure of certain sectors of industry and commerce, caused unemployment to increase and, in some cases, definitive closure occurred with all that this entails.
The health emergency scenario also generated a process of reinvention of existing businesses and the adaptation of tasks where functions disappeared and appeared within the production chain. This has generated new job opportunities projected for 2021. cost
of an employee, thinking about their sustainability.
The cost of an employee in Colombia
According to sources from the Ministry of Labor in Colombia, cost of an employee for 2020 it is $1,479,684, this corresponds to the employee whose salary is a minimum wage, which is reflected in a
monthly remuneration of $877,803 to which $102,854 must be added that are recognized for transportation subsidy, for a total of $980,657.
The global figure for the cost of an employee is given by 11 factors, these are:
- Minimum salary: $877,803
- Transportation assistance: $102,854
- Vacation: $36,604
- Premium: $73,120
- Severance: $73,120
- Severance interest: $8,778
- Health contribution: $74,613
- Pension contribution: $105,336
- ARL: $4,564
- Parafiscals: $79,002
- Endowment: $43,890
For 2021, minimum wage negotiations have begun with technical issues related to unemployment,
productivity and inflation. The labor confederations have shed light on their proposal, an increase of 14%; For their part, the unions have made it clear that their intention is to propose a 3% increase.
After the first consultation meeting, only two proposals are projected and on them the cost of an employee in Colombia for 2021 can be raised.
| Increase proposal | Cost of an employee in Colombia for 2021 |
| Workers' centrals 14% | $ 1.732.261 |
| Guilds 3% | $ 1.565.113 |
Budget planning for 2021 can take these reference values as floor and ceiling to determine your fixed costs and profitability projection of your business model, the increase that will establish the real value of the cost of an employee
It will be known in mid-December.
What about the United States?
On the American continent, the United States heads the list of countries where covid-19 had the greatest impact. The minimum interprofessional salary (SMI) that was managed for 2020 was $1,256.7, the same figure as 2019.
The SMI that workers receive in a legal workday, regardless of the type of contract they have signed, may vary by state, city or county and taking into account exceptions.
Other types of compensation provided by companies must be added to the minimum wage that a worker receives, which allows the cost of an employee to be determined. Medical, dental and vision insurance generate an increase, as do pension plans and disability, limb and life insurance.
The factors to calculate the cost of an employee in the United States are variable, depending on the location of the company and the working conditions it provides to its workers.
The change of presidency and the health emergency are two events that will determine what happens regarding this economic aspect, but the trend of the last 10 years indicates that the figure of 1,256.7 dollars can be maintained.
However, the proposal by President-elect Joe Biden regarding an increase in the minimum wage to $15 per hour cannot be left aside.
The U.S. Bureau of Labor Statistics reported that for the quarter ending in September, the employment cost index increased as follows: for civilian workers, compensation increased by 0.5%, wages and salaries by 0.4%, and benefits by 0.8%.
For private industry, the increase was 0.5% in compensation, salaries, wages and benefits. In the state and local government category, benefits increased 0.8%, salaries and wages increased 0.1%, and compensation increased 0.4%.
The prospective cost of an employee in the United States is uncertain given the global situation and, specifically, what the North American country is experiencing.
The labor market and business profitability
The commitment of workers is directly related to a significant increase in the remuneration they receive for their work in different fields of work. However, experts and economic analysts recommend caution to avoid a disproportionate increase that could harm the labor market.
Establishing the costs that will make up each company's payroll in 2021 will be a vital process to guarantee the sustainability of organizations. This will allow for better control of expenses for the benefit of profitability.
Having each of the company's collaborators is decisive when proposing a strategy that allows increasing profit margins.
To maintain the workforce, beyond the cost of an employee, it is recommended to make technology an ally in the processes. In this way, the value of human talent will be offset by the reduction in expenses generated by technological development, avoiding affecting profitability.