Contingent Workforce Costs: Agency Markups, Contractor Day Rates, Fixed-Fee Statements of Work, Conversion Fees & Total Cost per Hour

What you'll build

What you will be able to do

Each lab ends with a concrete result that you build yourself and the checker confirms, cell by cell.

• Convert hourly, daily and monthly rates of eight contingent workers into one hourly equivalent, cost their June hours, average the day rates per hour and translate a monthly rate into a day rate.
• Build bill rates from pay rates and markups, work out the productive hours and loaded hourly cost of a fictional employee, and find the markup at which an agency temp costs the same per hour.
• Look up the card rate for each contractor by role and level, cost the overpayment above the card, total it for the month and highlight every line that is paid above the card.
• Price a fictional project on time and materials at the estimate and at the actual hours, add the approved change requests to the fixed fee and work out how much of the overrun the supplier carries.
• Count the weeks each temp has worked, look up the conversion fee band from a fictional scale, cost the fee and find how many weeks of agency markup would add up to it.
• Calculate planned end dates with EDATE, count the months each assignment has run, total the cost of all extensions and highlight assignments that exceed the company's review guideline.
• Summarise three months of contingent invoices by category and by department × category, put the spend into proportion with the employee payroll and name the biggest supplier.
• Put the three sites side by side: contingent share of FTE, the extra cost per contingent FTE, a first-year conversion scenario for Site B and a column chart of the workforce mix.