Are you satisfied with your employees’ overall productivity? Do you feel like you’re maximizing the ROI on your payroll?
If you talk about business productivity, you can’t overlook financial productivity. You need to determine how much you’re spending – in employee time – and how much profit you’re making on each project.
It all starts with correctly pricing your services, based on people hours.
Here are three key steps:
1. Track your payroll expenses at the same level you are billing your clients: by customer, job, service, item, department, team or person.
2. Post that cost in your accounting