Business Growth

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person looks at HR to reduce labor costs
Budgeting & Forecasting

5 Strategies to Reduce Labor Costs

With employee retention, inflation and a looming recession all front of mind for business owners, it can be tricky to balance the effect labor costs have on your bottom line. In the United States, WTW’s budget planning survey showed companies are projecting an average salary increase of 4.1% in 2023. But, even if your company is included in that estimate, there may be other ways to reduce labor costs.

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