Labor productivity cost
Average cost of labor per unit of output produced, often expressed as the ratio of total labor compensation per hour worked to output per hour worked.
Labor productivity cost measures the cost-effectiveness of the workforce in terms of output relative to input. Enhancing this metric involves optimizing processes, training, and resource allocation to achieve more work with less expenditure, positively impacting the project's bottom line.
Used in a sentence
Improving labor productivity cost can lead to significant savings and better project outcomes.
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