While it may sound quite insignificant, calculating the Actual Hourly Cost of your employee is one of the most critical functions of a business
Without knowing this cost, it’s impossible for any business to be able to understand their true operating costs, which is an extremely dangerous practice. Determining your Actual Hourly Cost can be a massive headache at times.
In fact, back in 2001, I despised accounting and I didn’t know what Labor Burden was, nor how to generate a Profit & Loss Statement was or a care how to evaluate a Balance Sheet.
Well it turns out that owners and managers today can take full control of their Employee Expenses, without the need to know a single formula or require any spreadsheet experience. I’m going to share this with you today.