labor cost
Employee payment total
Labor cost is the total expense of employing workers, including wages, benefits, payroll taxes, and related expenditures.
Businesses track labor costs to manage budgets and pricing: Labor costs account for forty percent of our operating expenses.
The term appears frequently in discussions of manufacturing, outsourcing, and automation, where reducing labor costs drives major decisions.
- wagesPayment for work
- payrollStaff wages collectively
- overtimeWork beyond scheduled hours
- time clockShift tracking device
- hourlyOnce each sixty minutes
per diem · minimum wage · salary · living wage · benefits · workforce · human resources · employees · blue collar · outsourcing · sweatshop · sweat equity · union · manufacturing · assembly line · factory · cheap · expensive
- logistics metricson-time delivery, delivery rate, lead time, transit time, cycle time
- expensesexpenses, expense, expenditure, rent, bill
- costsoverhead
- Kitchen Managementinventory, ordering, sanitation, health codes, inspections
- HR metricsheadcount, turnover rate, retention rate, attrition rate, absenteeism
- Project Estimationestimate, forecast, ballpark, quote, bid
labor costmaterial cost
Price of raw inputs
capital cost · fixed cost · operating cost · capital expenditure · rent
labor, cost, laborer, laboring, labored, laborious, laboriously, collaborate, collaboration