How to Choose Professional Advisors

You might be inclined to think professionals – doctors, accountants, lawyers – are pretty much the same in quality but that is not the case.  Yellow Belt

Level 4: Outsourcing

  Labour costs are typically 50-70% of your operating costs. With YOUR specific issue in mind, select the area below that best fits. Note: Campaign, Skills Module or Leader’s Briefings signup may be required for some articles Drill down to the article that provides the solution. Anything you can do to improve labour productivity is […]

Benefit from Labour Efficiency Ratio Metric

The cost of labour is one of the largest overhead expenses in most businesses.  Any inefficiency here is an expense that must be recovered from the potential Profit of the organisation.  Labour tends to grow of its own accord and it is very difficult for the business operator to know just how labour productivity is going as costs are rising.  The Labour Efficiency Ratio discussed in this article is an early warning alert if wages are moving in the wrong direction.    Read this if: You have have sufficient staff to find yourself losing track of their costs and contribution to company productivity / profitability or if you are looking at putting on staff, like accountants, that don’t directly contribute to profit generation. Probably more likely to appeal when you have 10 staff or more.    Relies on: mentions a metric dashboard to monitor your business. Audio/visual materials: none  Degree of Difficulty: Blue Belt (intermediate)

SM2.9 80/20 Staffing

Labour costs are typically 50-70% of your operating costs so anything you can do to improve labour productivity is a good thing.  The 80/20 Rule can be applied to the issues around staffing so that your business can operate as effectively as possible.  Yellow Belt

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