workforce costs

USAGE SUMMARY

The phrase "workforce costs" is correct and usable in written English.
It can be used when discussing expenses related to employees, such as salaries, benefits, and training costs. Example: "The company is looking for ways to reduce workforce costs without compromising employee satisfaction."

✓ Grammatically correct

News & Media

Science

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

12 human-written examples

All would shrink federal workforce costs.

The New York Times

The combination of funding and regulation and further workforce costs has created a perfect storm – a cliche, but there is something in it.

The Guardian

151 East Sussex Hospitals NHS Trust ACUTE The Trust will need to reduce workforce costs as part of our savings plan; this will include additional costs (for example overtime, agency costs etc) but we will also need to reduce overall workforce numbers.

The Guardian

Return-on-workforce investment measures the ratio of profit with respect to total workforce costs.

Journal of Industrial Engineering International

When comparing the yearly costs per patient in hygiene and/or bandaging materials including antibiotic ointments (direct healthcare costs) with the gain in working days/salary since program implementation (indirect workforce costs), Stillwaggon et al. [24] could calculate per-person savings of more than 130 times the per-person costs of their program.

Health Economics Review

Welcoming the report, Dr Alan McDevitt, chairman of the BMA's Scottish General Practitioners Committee, said: "Prescribing costs in the NHS are second only to workforce costs in the health budget and therefore opportunities to make savings here can have a significant impact on health spending.

BBC

Human-verified similar examples from authoritative sources

Similar Expressions

48 human-written examples

Could Paul Ryan's cuts to the federal workforce cost taxpayers money?

The Washington Post

Budgeted workforce cost for maintenance activity k at period t.

Journal of Industrial Engineering International

To further constrain the number of worker in a category, limitation on maintenance workforce size (Eq. 7), workforce cost for each maintenance activity (Eq. 8) and total maintenance workforce budget are other sets of constraints in their model (Eq. 9) that were considered.

Journal of Industrial Engineering International

To bring these statistics home, chronic disease plaguing Illinois's workforce cost the state $14.3 billion in lost productivity.

Huffington Post

The United States is the only high-income nation not to provide paid family leave, forcing many women -- more often than not the caretaker to newborn babies or sick loved ones -- to drop out of the workforce, costing them promotions in addition to significant loss of income, retirement and Social Security benefits.

HuffPost

Expert writing Tips

Best practice

When discussing measures to improve a company's financial health, explicitly mention efforts to optimize "workforce costs" to demonstrate a focus on efficiency and profitability.

Common error

Avoid using "labor costs" and "workforce costs" interchangeably without considering the context. "Labor costs" typically refer specifically to wages, while "workforce costs" encompass a broader range of expenses, including benefits, training, and other employee-related expenditures. Be precise in your language to accurately reflect the scope of expenses being discussed.

Linguistic Context

The phrase "workforce costs" functions primarily as a noun phrase. It represents the total expenses an organization incurs related to its employees. Ludwig AI confirms its widespread use in describing financial aspects of business operations.

Expression frequency: Common

Frequent in

News & Media

33%

Science

33%

Formal & Business

34%

Less common in

Encyclopedias

0%

Academia

0%

Wiki

0%

Ludwig's WRAP-UP

In summary, "workforce costs" is a common noun phrase used to describe the expenses associated with a company's employees. Ludwig AI analysis indicates that the phrase is grammatically correct and widely used across various contexts, particularly in news, science, and formal business settings. While alternatives like "labor expenses" or "personnel costs" exist, "workforce costs" provides a comprehensive view of all employee-related expenditures, encompassing salaries, benefits, and training. Effective management of "workforce costs" is crucial for maintaining financial health and competitiveness.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

labor expenses

This alternative focuses on the costs associated with labor, providing a more direct synonym.

personnel costs

This term highlights the expenses related to personnel or staff, offering a broader perspective.

employee compensation expenses

This option specifies that the expenses are related to compensating employees, adding more detail.

payroll expenses

This term refers specifically to the costs of running payroll, a key component of workforce costs.

staffing expenditures

This phrase uses a more formal tone to describe the money spent on staffing.

remuneration costs

This term highlights the expense of paying or rewarding employees for their work.

salary and benefits expenses

This alternative breaks down workforce costs into salary and benefits, adding clarity.

total workforce remuneration

This phrase encapsulates all forms of payment and benefits provided to the workforce, emphasizing the total cost.

employee-related expenses

This is a broader term that includes all costs associated with having employees, not just direct compensation.

human capital expenditure

This refers to investment in the workforce, including costs like training and development, framing workforce costs as an investment.

FAQs

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

You can use "workforce costs" to discuss expenses related to employees, such as "The company is aiming to reduce its "workforce costs" by implementing new efficiency measures." or "The annual budget includes a detailed breakdown of "workforce costs"".

What are some alternatives to saying "workforce costs"?

Depending on the context, you can use alternatives like "labor expenses", "personnel costs", or "employee compensation expenses" to convey a similar meaning.

What's the difference between "workforce costs" and "labor costs"?

"Workforce costs" is a broader term that includes all expenses related to employees, such as salaries, benefits, and training. "Labor costs" typically refer only to wages paid to employees. Therefore, "workforce costs" is more comprehensive than "labor costs".

Why is it important to manage "workforce costs" effectively?

Managing "workforce costs" is crucial for maintaining a company's profitability and competitiveness. Efficient management can lead to increased revenue, improved resource allocation, and better employee satisfaction by allowing for strategic investments in areas such as training and development.