McCadden: Determining Your Real Labor Costs
The burdened cost of labor includes much more than just the hourly wage of the employee who will complete the work.
Predicting in-house labor costs for a remodeling project is essentially a guess. With remodeling experience (or what I refer to as “schema”) we get increasingly better at estimating these costs, but it’s still a guess at how long it will take a given worker to complete a task or project. What really puzzles me is why, with this inherent risk, the majority of remodelers literally guess on what it costs to put an employee in the field.
Watch this webinar to find out how to calculate your real labor costs.