I'm often asked by my clients how to reduce expenses and increase profits.  One of the most important steps is to gain a thorough understanding of what your true labor costs are and then apply a few strategies in order to slash the costs right out of the P&L.

 

Understanding ones true labor costs is a very difficult and often overlooked method of business leadership.  One only has to look at the automotive industry to understand labor costs have been ignored.  Labor cost is much more than an hourly wage; if fact, hourly wage is a minor portion of the actual labor cost. 

 

Question: "How many hours do your full-time employees work?"  If you said 40 hours you probably answered this question..."How many hours do you pay your full-time employees per week?"

 

We will be holding a series of breakfast meetings here at our offices.  These breakfasts will be every Tuesday from 8:00 to 9:30; beginning June 9, 2009 however, seating is limited.  These meetings will intentionally be kept small, to accommodate questions and answers, and will fill up very quickly.