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A full-time equivalent (FTE) is a unit of measurement used to figure out the number of full-time hours worked by all employees in a business.
Understanding full-time equivalent (FTE) can help you track working hours more effectively and prepare accurate budgets for various working hours. In this article, we explain what FTE is, the steps for calculating this measurement and its purpose.
A full-time equivalent (FTE) acts as a measurement unit to decipher the absolute quantity of full-time hours contributed by workers within a corporation. Assuming your corporation characterizes a whole-time workweek as 35 hours, an employee working 35 hours weekly would be allotted an FTE of 1.0.
An FTE stands for “full-time equivalent”, referring to the number of full-time employees your organization would have if all worked full time. How do you calculate an FTE? By adding up total hours worked by all employees, divided by standard work week hours (typically 40).
The calculation of full-time equivalent (FTE) is an employee's scheduled hours divided by the employer's hours for a full-time workweek.
A full-time equivalent (FTE) is the sum of full-time hours employees work in a company. To calculate FTEs, you must divide employees’ scheduled hours with their official full-time work week hours.
As the name implies, calculating Full Time Equivalent involves converting the working hours of part-time or temporary employees into the equivalent of a full-time position. This calculation is necessary for accurate HR budgeting, resource allocation, and workforce planning purposes.
For example, if a part-time employee works 20 hours a week and a full-time employee works 40 hours, the part-time FTE is 0.5. This calculator simplifies the process of determining the FTE of your workforce, making it an invaluable tool for business managers and HR professionals.
Full-time equivalent, or FTE, is a metric used to determine how many full-time and part-time employees you currently have on staff. Each FTE is equivalent to the number of hours your full-time...
Full-Time Equivalent (FTE) is a measure of the number of actual hours worked by an employee or group of employees on a full-time basis. It is expressed as the ratio of the actual hours worked divided by the number of scheduled hours for a full-time position.