FTE offers a full time employability model (onsite or offsite) depending on the hiring requirement. Employees can be hired depending on the tasks such as designer can be hired in the beginning of the design creation and later while we are at the finishing stage. The contract can be revised or redesigned depending the varied requirement of the project.

On top of that, FTE model allows to work with the talent having different types of expertise working on different platforms. This way the companies get to work with the skilled teams and the hired employees get the exposure and experience to work with the latest technologies.

For the FTEs, contract agreements are made to ensure the timely completion of the projects and at the same time the employees can work freely sitting on the remote locations.

FTE (Full Time Equivalent) is the remote staffing solution for the companies to improve their productivity and efficiency. In the diversified business landscape, it is not possible to hire all kinds of resource in-house. An FTE is equal to the number of hours a full-time employee works for an organization. The concept is used to count “hours worked” rather than the number of employees to budget, forecast, staff and calculate wages. For example, if an organization considers 40 hours per week as full-time and there are four employees who work 10 hours each per week, the hours for those four employees add up together to make 1.0 FTE. FTE working model is further divided into onsite and offsite modes. In the onsite mode, the person or team hired go to the physical location and work there. Whereas in the offsite mode, the hired employees work in nearshore (same time zone) or in the offshore mode (different time zone) remotely. The work is tracked using the tracking tools.

To monitor the employee’s productivity, tracking devices to monitor time, resources and task tracking are used. At Maxxmann, we use advanced tools like PODJINN to ensure the productivity of the employees. At the same time, the organizations can monitor the progress of the tasks and can edit the time and resource allocation. More than one person can provide remote service to clients serving their need. In case of critical projects like IT, Healthcare, Finance, this working model is the optimal solution to manage a remote team.

Full-Time Equivalent (FTE) is a metric method to manage remote employees within a company, incorporating both full-time and part-time employees. This calculation is valuable for assessing hiring capacity, managing payroll, and complying with labor laws and employee benefit programs.

The calculation involves treating part-time employees as a fraction of a full-time employee based on the hours they work. The standard benchmark for 1.0 FTE is a 40-hour work week. For example, a part-time employee working 20 hours would be considered a 0.5 FTE.

Here’s a simplified process for calculating FTE:

1. Determine the Total Hours Worked by Part-Time Employees.
2. Add the Hours Worked by all the Employees.
3. Divide the Total Hours by the Number of average working hours of the employees for a weekly or monthly or yearly billing basis.

However, when you opt to work in FTE with Maxxmann, you can get a premier deal that will allow you save money.

Please feel free to contact us then!