Labor costs constitute the smallest portion of the cost of goods sold among most IndustryWeek's Best Plants winners and finalists. That said, for one plant in the 2009 competition, labor costs represented 44% of its costs of goods sold. Average labor costs as a percentage of COGS in that same year were 12.7% and the median was 8.2%. (Editor's Note: If you'd like to download a copy of the 2009 IW Best Plants application for review, go online to the 2009 application. Downloading a copy WILL NOT commit you to participating in the program. We also will alert you when 2010 applications are available.)
| Labor cost (% of cost of goods sold): | | Year | Median | Average | Minimum | Maximum | | 2005 | 11.7 | 14.0 | 1.3 | 75.0 | | 2006 | 7.5 | 12.0 | 1.0 | 50.0 | | 2007 | 11.0 | 15.3 | 3.0 | 35.0 | | 2008 | 7.6 | 14.3 | 3.0 | 40.8 | | 2009 | 8.2 | 12.7 | 1.0 | 44.0 | | 2005-2009 | 10.0 | 13.5 | 1.0 | 75.0 |
Source: 2009 IW Best Plants Statistical Profile |
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