Full-time Equivalent Definition

noun

A unit of measurement equal to one employee working a full-time job over a specified time period, used to determine statistics such as productivity per full-time employee or expenses per full-time employee, when the employment pool consists of both part-time and full-time employees.

American Heritage

A similar unit used to determine statistics for a full-time student in a student population consisting of both part-time and full-time students.

American Heritage

The result of a calculation to estimate the effective size of a workforce that may include part-time workers.

We estimate our work-from-home employees to be 30% of our total full-time equivalents.

Wiktionary