Hi,
New to IMPLAN and I am trying to run a model that will give me the impact of X number of employees being added to an industry with a Cumulative Annual Payroll of YY. I do not have the benefits, only the salary. How do I run an Employment Compensation Impact model without the benefits and taxes? Or is there a way to figure out the benefits and taxes based on the salary provided?
Thank you,
Alyson
Hello Alyson!
You are spot on that you need to analyze a fully-loaded payroll number in IMPLAN. We have a very easy method for converting your Wage & Salary data to a full-loaded Employee Compensation value that is ready for analysis. The article IMPLAN to FTE & Income Conversions has a spreadsheet to download that will convert Wage & Salary to Employee Compensation as well as full-time equivalent (FTE) jobs to Employment.
Please let us know if there is anything else we can help you with!
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