Need Help with a business question about social Security premiums

timer Asked: Nov 6th, 2015
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Question Description

Social Security premiums explain how it influences staffing.

Tutor Answer

School: Duke University

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Increased staffing leads to increase in the cost of social security premium .When employing a new employee the companies must not only count the wages of the employee but also the cost of the employer contribution to the social security fund .Thus government requirement of social security has a huge impact on employer's ability to adequately staff.Thus in this way we can say that it influences staffing.

Also,social security premiums may influence staffing because certain jobs are not required to pay social security. If one is an independent contractor and works from home, they will pay the IRS money, but not social security. 



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