Question

What are the best ways to control labor costs?

What are the best ways to control labor costs?

Homework Answers

Answer #1

Some of the best ways to control labor costs are:

  • Schedule precisely – Labor costs can be controlled by scheduling as precisely as possible. A budget should be then created and it should be used to cover the labor expenses and create a work schedule.
  • Reduce employee turnover – Reducing employee turnover will reduce costs of recruitment, selection, training etc.
  • Cross train the labor – By cross training your labor and employees they will be given skill sets to perform a variety of operations in the factory and this will significantly reduce your absolute labor cost.
  • Automate and outsource where required – Procedures should be regularly reviewed and should be upgraded where possible and where required. Make sure to use the right software and the right service partner and this will help you to control your labor costs.
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