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How to manage payroll for retail & keep a low payroll to sales ratio

Homebase

Many small retail businesses learn to do payroll by themselves. Learn more. So, it’s a good idea to make that your benchmark and avoid exceeding 20%. The fastest solution to keeping payroll-to-sales ratio low is simply cutting employee hours. What you do with your employee hours is more important than cutting them down.

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Compensation and Benefits

Analytics in HR

For example, perks like bonuses, stock options, 401k matches, pension plans, paid time off , and even free lunches are all attractive to different people and make up an essential part of the compensation and benefits package. Overall compensation is the top factor that job seekers consider when accepting a new job.