Alternative Strategies at Work
In this chapter, we will take a close look at how these options are assessed in real-life work situations.
Bringing in New Business
A small electronics manufacturer in the Midwest needed to supplement its workforce to meet the demands of a new customer who wanted a new part to be made to very exacting standards. The owner of the company considered hiring additional permanent employees, but wasn’t sure that this was the best alternative. He reviewed the cost of hiring additional permanent employees both now and in the future. He calculated the costs of salaries, benefits, workers compensation, disability insurance, payroll taxes, pension reserves, additional supervisor salaries, payroll processing, unemployment ...