Financial Management 8: Controlling Labor Costs
Cash flow is the life blood of your firm and lack of cash is the primary cause in 92 percent of all bankruptcies. Increasing cash flow, managing cash, and using cash to your best advantage is as important to your business as superior architecture or design work. This 1-hour interactive online course helps you control labor and overhead costs and increase your likelihood of profitability on every project.
This is the eighth chapter of the “Financial Management for the A/E/C Firm” course series from PSMJ Resources, Inc. offered through RedVector.com in its entirety. We strongly recommend that you take all nine chapters of this course series.
What You Will Learn
- Increase efficiency and reduce the costs of labor
- Use prudent employee bonuses to motivate top performers
- Use alternative methods to cut costs in a business downturn
- Identify the danger signals of overhead costs getting out of line
- Utilize worksheets and sample rate calculations