Whether you are a business operating in the private sector, or a municipality, personnel costs has a huge impact on your bottom line. Roughly 70% of most municipal budgets is used for personnel expenses, such as payroll and benefits. This is not far off from the expenses incurred in the private sector for personnel and their related expense. Private companies report that 40% – 80% of their operating budget is absorbed in personnel overhead.
One thing public and private business have in common is the importance of their employees. The staff of any business is your biggest asset or your biggest liability.…Continue reading