Labor costs are the most expensive line item for any business. It can account for 70% of overall operating costs, with 30% of labor cost going to benefits. But do you know how much your employees costs and how that relates to your overall operating costs? What’s all included in labor costs Labor […]
The labor cost of an employee can be a significant portion of overall operating cost. Being a strategic business partner means knowing what that impact is.
Some metrics are easier to calculate than others. Unfortunately, this one won’t be just tallying up some headcounts. Salary range penetration is going to take a bit of mathematical skill (or a solid excel formula) but is a useful metric. Salary range penetration tells you where a person’s salary specifically falls within a pay range. […]
Compensation is an integral part of an organization’s budget strategy. It is important to understand the current state of your employees’ pay. Compa-ratio is a versatile metric to compare your compensation plans and strategies internally and externally. What is Compa-Ratio? This metric compares an individual’s salary against a salary range. You can use […]