Personnel Cost of the Finance Function Per Finance Function FTE

Costs are rising across the board as the U.S. economy continues to move forward from a short but deep recession, and labor costs are no exception to this trend. Many employees who kept their jobs in 2020 were happy to stay put, but in 2021 the labor market became much more competitive. While you should prepare for rising labor costs, the good news is that it’s possible to find savings in other areas while ensuring that finance employees are delivering value through the work they carry out. This article reviews the metric "total cost to perform finance function per finance function FTE" and discusses possible improvement opportunities in organization process to help better manage costs.