DOES LE STAND FOR BUDGET FULL
In the United States, a full-time workweek is typically 40 hours while others may consider 35 hours full time. The definition of “full time” varies by business, region and country.
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Related: What Are Full-Time Hours? How to calculate FTE When a business employs a large number of part-time staff, it can be useful to convert their hours worked into full-time equivalents to see how many full-time staff they equate to. Similarly, five employees working only five hours each would still total 1.0 FTE. An employee who only works 20 hours is 0.5 FTE so it would take two part-time employees to equal 1.0 FTE. For example, if an employer has a 40-hour workweek, an employee scheduled to work those hours is considered 1.0 FTE. Since FTE represents the number of hours worked in a week, an FTE employee is the total of employees it takes to make up an FTE. Related: What Is a Full-Time Job? What is an FTE employee? For example, companies with 50 or more FTE are required to offer group health insurance. Some companies are required by law to count FTEs to determine if certain laws, such as the Patient Protection and Affordable Care Act, apply to the organization. It documents the hours worked rather than how many employees worked. It standardizes the measurement for determining the cost (time, money and personnel) of a project.įTE calculation can be used for many purposes, including benchmarking revenues or profits per employee. You also can view it in reverse: how much FTE is used in project and resource management to determine staffing needs or report hours worked. It is a unit of measurement that represents the number of hours worked by a single employee in a week. What is FTE?įTE stands for full-time equivalent, though you might also see it referred to as “WTE” (whole-time equivalent). In this article, we will examine what FTE is, give some examples of how to calculate FTE and discuss its importance and limitations.
This is where the concept of FTE (full-time equivalent) can be very helpful.
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Some employees may be full time, part time or only work a certain number of hours on your project. When working on budget projections or resource allocation for a project, you may encounter complications because employees do not all work the same hours.
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