The FTE Forecast tab is designed to help you identify which employees are working a specific number of hours of a period of time. This is intended to assist you in better understanding your workforce and who is approaching the threshold of becoming a full-time employee under the ACA guidelines.
Full-Time Equivalent (FTE) is the number of working hours that represents one Full-Time employee during an established period, such as one year or one month.
To Generate the Forecast:
- Select how many months to look back on ( from 3 to 12 months).
- Select the number of hours in the "Hour Threshold" drop-down menu
- Click .
This will evaluate employees' Full Time Equivalency based on the Weekly Hours of Service.
If you wish to calculate the number of hours monthly, select the Use Monthly Hours of Service checkbox. By checking the box, the FTE Forecast will evaluate employees' Full Time Equivalency by Monthly Hours.
This FTE Forecast will help administrators to track part-time employees and determine which part-time employees are approaching or close to Full-Time Equivalent.
In the example image below, the employee Pete Cook is working thirty-three hours weekly (on average). Pete has gone over the 30-hour threshold and should be considered Full Time.