When business leaders look for ways to increase their profit margin, they primarily focus on the management of two key areas: sales and costs. Strategies that increase your revenue or reduce costs by streamlining your processes are common ways to increase profits. One often overlooked area that can boost your profit margin is taking steps to increase your employee engagement.
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It is no accident that as union strength declined, the social contract in America was systematically shredded. Yes, globalization and technology have changed the economy. But as labor weakened, both politically and on the job, business interests have been able to wring the benefits from these changes and shift the costs to workers.