How to Reduce Labor Costs with Leading Indicators

Most businesses are struggling to keep labor costs within budget. Competitive labor markets are driving costs while employee turnover is increasing overtime hours worked. With these external pressures, businesses need to rely more on internal controls through data driven decisions. In fact, 90% of businesses believe that data-driven decisions are key in lowering labor costs, however only 13% utilize them effectively. Most rely on lagging analytics which means they can only address the issues after the fact.

The companies utilizing these analytics effectively are doing so by leveraging leading indicators. Doing so, it enables them to reduce their labor costs by flagging potential overtime and pinpointing excessive staffing levels during reduced demand.

This webinar covers:

-The likely trajectory of future wage growth.
-What the top leading indicators are for higher labor costs.
-How you can implement leading indicators in your organization.