What is FTE?
FTE stands for Full Time Equivalent, which also means full-time, means a single job, and no other part-time job. Full-time workers are also called full-time employees.
*Definition of full-time work: full-time work refers to a relatively long-term and stable work mode, usually using the normal commuting time to divide workdays and rest days, and work is subject to certain restrictions.
Full time equivalent can
- Enjoy better benefits, more comprehensive MPF, paid vacation, and other benefits;
- Get higher pay, especially for salaried positions, and work longer hours, so they make more money.
The importance of full time equivalent
A stable operating structure with full-time employees is indispensable and very important to business development.
- Full-time employees can take on more responsibilities because they work longer hours than casual employees;
- Increased loyalty: The perks that come with working full-time tend to increase employee engagement and dedication;
- Establish a good corporate culture;
- The position in the company structure is clear, and it is easier to master personnel management;
- Employees who are employed on a permanent basis are more committed to the company and have relatively low mobility;
- Full-time/permanent employees are more committed to their jobs and feel more attached to the company.
Best recommended: Workstem can not only guarantee the basic guarantee of full-time employees’ employment, improve employee loyalty and risk-taking spirit, but also avoid unnecessary labor disputes, ensure the company’s legal and compliant operations, and business prosperity.