How to Keep Labor Costs in Budget with Rising Wages

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With nearly a 4% increase, wages have skyrocketed over the past couple of months and will continue to do so in 2024. While attempting to balance the book, HR will struggle without a doubt to keep company costs at a minimum. This means doing what needs to be done to lower labor costs when it comes to unnecessary overtime hours.
We're so excited to welcome Kim McNeil, one of SHRM's HR Knowledge Advisors, to walk us through how to lower unnecessary overtime, what labor forecasting is and how to use it without technology, and the importance of benchmarking costs between locations and even competitors.
AGENDA
✓ How to remove unnecessary overtime completely.
✓ How to utilize workforce planning and labor forecasting.
✓ How to benchmark costs between locations and teams to ensure industry standards.
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