With labor costs, which includes employee wages, benefits, payroll and other related taxes, account for as much as 70% of total business costs, many organizations are feeling the pressure to do even more with less—fewer employees, fewer resources, and smaller budgets. As fears of recessionary pressure continues to loom, many companies are left wondering how to reduce annual costs of labor without gutting their workforce, slashing employee hours, or making other unpopular decisions.
Government officials too are closely watching the labor market, and wages in particular, to gauge what additional measures they need to take to keep the persistently high inflation under check. While goods price increases that are tied to supply chain snarls are beginning to fade, central bankers are worried that rapid pay gains could keep services costs rising rapidly. However, there has been some good news with the US wage gains cooling in the second quarter of this year according to data released by the Bureau of Labor Statistics at the end of July.
To understand more about how the latest labor market trends can impact your business, join our webinar “Labor Market Trends and Impact on Procurement”. Our experts will discuss the latest developments in the labor markets, how it impacts the procurement function of different businesses, and best practices to mitigate risks.
North America Region: Click here!
EMEA Region: Click here!
Yatheesh Chandrasekaran, Associate Vice President
Yatheesh Chandrasekaran is part of the Sourcing & Procurement market Intelligence team of Infiniti Research. He holds an M.Sc. in International Business and Finance and has over 16 years of experience in financial markets, procurement market intelligence, spend analytics, cost modelling, supplier intelligence and benchmarking. He has worked on projects covering pharmaceutical and life sciences, energy, semiconductors, industrial services and manufacturing.
George Mathew, Associate Vice President
George Mathew is part of the Market Intelligence team of Infiniti Research. He holds an MBA in Finance and has 11+ years of experience in various areas of market intelligence, including quantitative and qualitative market assessment, growth forecasting, competitor intelligence, category benchmarking, and supplier analysis and benchmarking. He has worked on projects covering the pharmaceutical, CPG & FMCG, energy, and automotive sectors.
Date and Time
Date: 24th August, Thursday
11:00 AM – 11:45 AM BST
11:00 AM – 11:45 AM CDT
NA Region: Click here!
EMEA Region: Click here!