All employees may be included in your full time equivalent (FTE) count. Below is an example of how to calculate your FTE.
A company has a total of 5 employees, 3 full-time and 2 part-time. The pay period that includes January 1 is from 12/27/2019 to 1/10/2020. Since employees are paid every two weeks, the pay period includes 10 business days. This could be different if the pay schedule is bi-monthly.
3 full-time employees worked 40 hours per week or 80 hours for two weeks. 2 part-time employees worked a total of 50 hours for two weeks.
Calculations:
(3 employees * 80 hours = 240 hours) + 50 hours = 290 total hours worked
290 total hours / (10 pay period days * 8 hours per day) = 290/80 = 3.63 FTEs for the pay period that includes January 1, 2020.
The FTE calculation may instead be performed using the 1.5 method, where a full-time employee equals 1 and a part-time employee equals 0.5. An example is shown below.
Calculations:
3 full-time employees = 1 * 3 employees= 3 FTEs
2 part-time employees = .5 * 2 employees = 1 FTE
3 + 1 = 4 FTEs
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