Benefits Cost Tracker

Download and open in Excel or Google Sheets

Requires a Tools Club membership — log in first to access the file.

List each benefit type offered

Health insurance, retirement matching, and any other benefits with a real cost to the business.

Enter the cost per employee for each benefit

Some benefits are flat per-employee costs, others (like a retirement match) vary by individual.

Review the automatic total cost per employee

This gives you the true, fully-loaded cost of each employee, not just their salary.

Run the built-in AI prompt to check against typical ranges

Attach the saved file to ChatGPT or Claude and ask how your benefits cost as a percentage of salary compares to general norms.

Budgeting a new hire based on salary alone

This significantly understates the real cost — always factor in the full benefits load when planning a new position.

Not tracking benefits cost per employee individually

Costs like retirement matching or tiered health plans can vary meaningfully by employee — a single average number hides that detail.

Forgetting to update the tracker when benefits costs change

Insurance premiums and other benefits costs change, often annually — keep the tracker current rather than working off stale numbers.

Not comparing benefits cost trends over time

Watching this trend year over year helps you catch costs creeping up before they become a bigger budget surprise.