February 01, 2020
This biggest cost in almost any kind of business is the employees. In fact, it’s not uncommon for labor costs to account for as much as 70 percent of all business costs.
This makes it critical to maximize the money you spend on labor costs by getting the most from your staff. Of course, that’s easier said than done. One way to look at it, though, is by making hiring and training decisions through the lens of specialization vs. generalization.