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OLMEC TARGETING FUND RULES
All Contractors requesting a subsidy from the OLMEC Targeting Fund
agree to be governed by the following rules:
(1) This OLMEC subsidy applies only to bargaining unit work
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01
To fill out planned full time equivalent, follow these steps:
02
Determine the total number of full-time employees you currently have.
03
Determine the total number of part-time employees you currently have.
04
Convert the part-time employees into full-time equivalents by multiplying the number of part-time employees by their respective full-time equivalency factor. This factor is typically based on their average working hours compared to a full-time employee.
05
Add the total number of full-time employees to the calculated full-time equivalent of the part-time employees to get the planned full-time equivalent.
Who needs planned full time equivalent?
01
Planned full time equivalent is needed by organizations or businesses that need to measure and plan their workforce capacity accurately.
02
It is commonly used in workforce planning, budgeting, and resource allocation.
03
By calculating the planned full-time equivalent, organizations can better determine their staffing needs, identify any gaps or surpluses, and make informed decisions regarding recruitment, hiring, and employee scheduling.
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What is planned full time equivalent?
Planned full time equivalent refers to the total number of hours that an employee is expected to work on a full-time basis.
Who is required to file planned full time equivalent?
Employers are required to file planned full time equivalent for each employee.
How to fill out planned full time equivalent?
Employers can fill out planned full time equivalent by calculating the total number of hours each employee is expected to work on a full-time basis.
What is the purpose of planned full time equivalent?
The purpose of planned full time equivalent is to provide an estimate of the total number of hours that employees are expected to work, in order to facilitate labor management and planning.
What information must be reported on planned full time equivalent?
Planned full time equivalent must include the total number of hours that each employee is expected to work on a full-time basis.
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