costs of workforce

USAGE SUMMARY

The phrase "costs of workforce" is correct and usable in written English.
It can be used when discussing the financial implications or expenses associated with employing and managing a workforce. Example: "The costs of workforce have increased significantly due to rising wages and benefits."

✓ Grammatically correct

Science

News & Media

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

1 human-written examples

Other studies have estimated the costs of workforce participation in terms of the number of working days lost due to mental ill health, lost income or disability support payments [ 1, 24- 32].

BMC Psychiatry

Human-verified similar examples from authoritative sources

Similar Expressions

59 human-written examples

The report quantifies the cost of workforce discrimination, increased health costs and anti-LGBT laws, which can cost a nation up to 1percentt of its Gross Domestic Product.

HuffPost

Costs of the workforce reductions will be reflected in charges against earnings in the current quarter which will end on March 28 , 1999 andin the following quarter.

Forbes

The rising costs of health workforce financing in Thailand follow the global trend.

Human Resources for Health

On the other hand, costs of human workforce significantly increase along with the decreasing accessibility of qualified health care professionals.

BMC Ophthalmology

Many businesses will be numbed into thinking that they'll no longer be burdened by the direct health care costs of their workforces.

Forbes

The tangible costs of drinking in the European Union, including health costs and loss of workforce productivity, were estimated at some 125 billion euros ($197.3 billion) in 2003, or 1.3% of gross domestic product, according to the study.

Forbes

The costs consist primarily of workforce reductions, plant closures, and asset impairments.

Forbes

Local authority Glasgow district council had a "better than planned" financial position in 2007-08 with an unallocated balance of £19m, most of which went towards meeting equal pay commitments and the cost of its workforce pay and benefits review, according to the latest annual audit report by Audit Scotland.

The Guardian

All organizations know the cost of their workforce intervention per participant.

HuffPost

The current cost of the workforce is estimated at $37.7m, falling to $25.8m in 2015.

BMC Health Services Research

Expert writing Tips

Best practice

When discussing the overall financial health of a company, use "costs of workforce" to encompass all expenses related to employees, including salaries, benefits, training, and compliance. It provides a comprehensive view that is essential for strategic planning and budgeting.

Common error

When analyzing workforce expenses, be sure to account for more than just salaries. Neglecting costs such as training, recruitment, and benefits can lead to inaccurate financial planning. These indirect costs significantly impact the total financial burden associated with the workforce.

Linguistic Context

The phrase "costs of workforce" functions as a noun phrase, primarily used as a subject or object in sentences. It identifies and categorizes expenses associated with employees. As Ludwig AI confirms, it is grammatically correct and usable in written English.

Expression frequency: Very common

Frequent in

News & Media

30%

Science

40%

Formal & Business

30%

Less common in

Encyclopedias

0%

Wiki

0%

Reference

0%

Ludwig's WRAP-UP

In summary, "costs of workforce" is a grammatically correct and widely used noun phrase referring to the financial expenses associated with employing and managing a company’s workforce. As confirmed by Ludwig AI, it appears most frequently in science, news and media, and formal and business contexts. While it can be replaced with alternatives like "labor costs" or "employee expenses", it's crucial to include indirect costs like training and recruitment when analyzing workforce expenses. Understanding and managing these costs is essential for effective financial planning and strategic decision-making within an organization.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

workforce expenses

Focuses directly on the money spent on the workforce.

employee-related costs

Highlights that the costs are connected to employees.

labor expenditures

A more formal way of referring to workforce expenses.

personnel costs

Similar to employee-related costs, focusing on personnel.

staffing costs

Emphasizes the cost of maintaining the staff.

employment costs

Broader term referring to all costs related to employing people.

compensation costs

Focuses on wages and benefits.

cost of labor

Classic economics term related to the value of the work performed by the workforce.

workforce-related financial burden

Highlights the financial strain or problem caused by the workforce costs.

financial impact of the workforce

Focuses on how workforce influences money and financial aspects in the company.

FAQs

How can I use "costs of workforce" in a sentence?

You might say, "The company is trying to reduce the "costs of workforce" by implementing more efficient training programs".

What are some alternatives to "costs of workforce"?

Depending on the context, you could use "labor costs", "employee expenses", or "personnel costs".

Which expenses are included in the "costs of workforce"?

The "costs of workforce" typically include salaries, wages, benefits, training, recruitment, and other employee-related expenses.

Why is it important to analyze the "costs of workforce"?

Analyzing the "costs of workforce" helps companies make informed decisions about staffing, budgeting, and overall financial planning to ensure sustainable and profitable operations.