Tag Archives: labor costs

Reduce Your Labor Costs for Greater Profit

December 22, 2021 | 141 views

Reduce Your Labor Costs for Greater Profit
Reduce Your Labor Costs for Greater Profit

It’s no secret that wage and labor costs are the largest expense for businesses. Depending on the industry, labor costs can be as high as 50% of all a business’s expenses. You should know the average in your industry so that you can meet and beat the number. If you find yourself on the high end of the industry’s labor costs, you must find ways to reduce them.

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Controlling Labor Costs in Hospitality

August 11, 2021 | 192 views

Controlling Labor Costs in Hospitality
Controlling Labor Costs in Hospitality

Controlling labor costs is always a top priority to manage profit. Labor is usually the largest portion of a business’s total expense, so any changes in wages directly influence business success. This is particularly true in the hospitality service industry. Employees provide the services you sell, and they are important to the organization’s success.

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