If you are looking to reduce labour costs or just generally maintain lower cost percentages, there are some ways you can approach it:
Hire efficient employees at higher rates – while keeping more senior staff members around may cost more per hour or per annual wage, they can save you money. One efficient employee that can do the job of two less productive employees will typically cost less in the long run. After all, one employee at $20 per hour costs less than two employees accomplishing the same tasks while getting a rate of $15 per hour each ($30 combined). Hiring the more …
