Employee Finance Wizardry Exit Quiz

Total Compensation is best defined as:

You have a full-time employee paid on a standard 40-hour week, with 10 statutory holidays, 15 vacation days, 3 personal days, and 4 corporate days. What is their Available Hours figure for the year?

Which of the following is true of billability targets?

The Real Gross Margin concept introduced in Business Finance Wizardry becomes calculable in Employee Financial Wizardry because:

Which of the following is not one of the four components of Total Rewards as discussed in the course?

Your billable rate is the rate at which you bill out a worker to the client. This is a way of mathematically linking compensation to pricing to margin–to make sure that the way you bill out work is profitable. Which rate do we recommend for land surveying firms in Canada?

For surveying firms in Canada, a strong revenue per employee number to aim for is…

A pay band…

Billability can take some time to work out if you don’t have a fully PSA software managing the work of the firm. For the moment, considering the targets laid out in the course:

• Front line staff – 85% – 95%
• Managers – 75% – 85%
• Owner – 50% – 60%
• Office – 0% -10%

Which employee do you guess will turn out to be the most above their target range? Most below their target range?

Keeping in mind the non-billable owner target of 40-50%, what’s one thing you’ll do with your “on the business” non-billable time as you begin to expand that? (Ex: Networking, hiring, mentorship, etc.)