Comparing labor costs is important to the success of an orga

Comparing labor costs is important to the success of an organization. Discuss how costs can be managed by controlling all aspects of compensation. Be certain to discuss benefits and services, headcount, hours worked and skills used, and the average cash compensation.

Solution

to the labor, a company has to spend so much as hiden costs. like providing them all recreation facilities, refreshment facilities and so on. but the major cost is wage per hour. and the other all costs colletively together becomes as this payment. a firm should manage or controll the hidden costs of the workers, other wise it is difficult to bare them.

ther wont be any specific strategies or plans for this, but based on our need and conditions we should follow some practices. if the number of working hours are more then the hidden costs will be less. so, we should plan in this way to minimize the costs of the organisation.