Whitepaper - Managing an Organizations Largest Cost: The Workforce

Today’s economy has finance professionals and CFOs in organizations large and small focused on efficiencies and costs. When revenue growth flattens or even declines, profit maintenance and increases must come from cost efficiencies. In most organizations, including large organizations such as the Fortune 500, total human capital costs, also known as total cost of workforce, average nearly 70% of operating expenses. While an organization’s total cost of workforce percentage may vary, with few exceptions these costs remain the single biggest organizational expense. Given their fluid and rapidly changing nature, workforce costs are extremely difficult costs to manage and control.