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Layoff Cost
The expenses incurred by a company when reducing its workforce, including severance pay, benefits continuation, and potential legal costs.
Hiring And Training Cost
(new definition) Reflects the financial outlays involved in attracting, selecting, and enhancing the skills of employees to fulfill organizational roles.
Labor Hours
The total number of work hours contributed by employees in a given period, often used as a measure of production, efficiency, and labor cost.
Inventory Holding Cost
The total cost associated with storing unsold goods, including storage, insurance, taxes, depreciation, and opportunity costs.
Q2: While the overall selection process is the
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