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... > social science subjects > business and management > entrepreneurship > new venture management > entrepreneurial leadership and human resources > labor costs

Preferred term

labor costs  

Definition

  • Labor costs are those expenses incurred by a new venture in the acquisition, development, engagement, and disengagement of the human capital necessary for its current and future operations. It is useful to think of labor costs as falling into three major categories—direct, indirect, and overhead. [Source: Encyclopedia of New Venture Management; Labor Costs]

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https://concepts.sagepub.com/social-science/concept/labor_costs

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