Choosing the right project management software can help you do this efficiently and at scale. Visualize team capacity and individual workloads through ClickUp Dashboard to ensure fair distribution and prevent burnout. Assign tasks based on available FTEs, thus optimizing resource allocation and preventing overwork. For instance, compare estimated FTE with actual hours logged to identify workload discrepancies and refine future estimates. This post covers all you need to know about leveraging Full-time Equivalents or FTE in project management.

• Create Custom Fields to store and track FTE data directly within tasks and projects, so that it is organized and accessible.
• Headcount is the total number of employees working in your company, including part-time and full-time workers.
• Visualize team capacity and individual workloads through ClickUp Dashboard to ensure fair distribution and prevent burnout.
• Now that you’re ready to leverage Full-Time Equivalent, get yourself a project management tool to help you plan and manage resources effectively.
• FTE calculations are also important when determining eligibility for certain federal programs and benefits.
• Using Full-time Equivalents (FTE) correctly ensures that the right skills and experience are perfectly matched to your workload, boosting project efficiency and employee engagement.

ALEs must offer insurance to each full-time employee who works at least 130 hours per calendar month. Standard FTE assumes that typical employees work 40-hour workweeks, five days a week, and eight hours a day. Since there are 52 weeks per year, this equates to an average full-time employee having the opportunity to work a total of 2,080 hours.

Project Management

The calculation is straightforward — divide the employee’s scheduled hours by the number of hours that represent an official weekly full-time schedule in a company (e.g., 40 hours per week). One part-time employee who works ten hours fte meaning per week and one part-time employee who works 25 hours per week. To calculate the total FTE, add the number of FTEs worked by full-time employees (1 FTE for each full-time worker) to the part-time FTE you calculated in step five.

The Paycheck Protection Program (PPP) was launched by the US Small Business Administration (SBA) to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. If you want your PPP loan to be completely forgiven, you need to keep the number of FTEs during the 24-week PPP period the same as it was prior to COVID-19. So, how can you calculate the FTE of your company and make sure you’re eligible for PPP? Marija Kojic is a productivity writer who’s always researching about various productivity techniques and time management tips in order to find the best ones to write about. She can often be found testing and writing about apps meant to enhance the workflow of freelancers, remote workers, and regular employees.

United States

In reference to an individual, 0.5 usually refers to the fact that the worker renders less than a full day of work or the student attends less than a full day of classes. Each government agency presents FTE estimates during the annual budget planning. FTEs must comply with applicable laws and the budget allocated to each agency. In the event of voluntary separation incentive proposals, also called buy-outs, FTEs are adjusted one-on-one. Conversion to contractors is necessary if this has a clear cost-benefit to the government.

Not strictly governmental projects may be converted to contractors, but this is subject to approval. However, these factors are excluded from calculating worked hours when https://www.bookstime.com/ filling positions. The fee-for-service is also common in the healthcare and medical professions. Their salary is pro-rata, meaning they are only paid for their work hours.