Here are 3 Easy steps to understanding the critical cost of the Employee Labor Burden
Essentially, Labor Burden is the employee cost to a company beyond the salaries it pays the employee. This means all of the other costs associated with having employees which is known as the “Labor Burden” or “Employee Labor Burden” for companies. This is extremely important because owners and managers must understand the Total, or Actual, cost of the Employee. Without understanding these actual costs, companies and their owners or managers cannot accurately estimate costs per hour, day or month for budgets and Jobs.