Cost-Benefit Analysis of Partnering with Voyage

Home » What We done » Cost-Benefit Analysis of Partnering with Voyage

Risk Mitigation

0 %

Cost Saving

$ 0

Background

In this case study, we analyze the employment and administrative costs incurred by a client before they partnered with Voyage. The client employed 50 full-time employees and occasionally hired additional staff throughout the year. The data provided reflects a one-year period.

Before Partnership with Voyage

HR Manager Salary + Payroll Taxes
- Base Salary: $65,000
- Payroll Taxes (15%): $9,035
- Total HR Manager Cost: $74,035
Marketing Expenses (Indeed or Similar Platforms/Job Fairs)
- Estimated Marketing Expense: $10,000
Payroll Systems
- Annual Payroll System Cost: $4,200
Time Clock Systems
- Estimated Time Clock System Cost: $2,000
Workers’ Compensation Policy
- Estimated Workers’ Comp Policy/Premium Cost: $150,000
General Liability Insurance
- Estimated General Liability Insurance Cost: $68,750
Workers’ Compensation Claims
- Estimated Workers’ Comp Claims Cost: $12,500
Employment Lawsuits
- Estimated Employment Lawsuits Cost: $30,000
Turnover Costs
- Estimated Turnover Cost: $25,000
Payroll & Taxes Calculation
- Hourly Wage: $17 per hour
- Payroll Tax Rate: 15%
- Total Payroll Cost for 50 Employees: $2,033,200
Healthcare Insurance (50% Employer Match)
- Total Healthcare Insurance Cost for 50 Employees: $162,500
California Sick Leave (Including Payroll Taxes)
- Total Sick Pay for 50 Employees: $39,100
Total Cost Before Partnering with Voyage: $2,611,285 per year

After Partnership with Voyage

After partnering with Voyage, the client was able to reduce their costs significantly. Using an average markup of 35%, Voyage provided comprehensive coverage for all the expenses listed above at a reduced rate:

Hourly Rate with Voyage: $22.95 per hour (35% markup on $17 per hour)

Total Cost with Voyage (50 Employees): $2,386,800 per year

This results in a cost saving of $224,485 per year.

Benefits of Partnering with Voyage

Voyage covers all costs associated with managing HR functions, payroll, insurance, workers’ compensation, and more. By partnering with Voyage, the client not only achieves cost savings but also mitigates risks and simplifies expense forecasting, leading to better profitability.

Transparent Pricing, Tailored for Your Needs

No hidden fees, just clear and competitive rates. See how we can support your goals today!

Cost-Benefit Analysis of Partnering with Voyage

Background

Before Partnership with Voyage

After Partnership with Voyage

Benefits of Partnering with Voyage

Transparent Pricing, Tailored for Your Needs

Member Login

Company

Employer

Location

Company

Employer

Location

Newsletter Sign Up

Privacy Policy

Notice Of Non-Discrimination

Disclaimer

Code Of Conduct

Online illustrations by Storyset

Copyright © 2025 Voyage Employer Services LLC

Languege