A short conversational excerpt from the YouTube video "The Hidden Cost of Unapplied Labor" (Chris Collins, Jan 9, 2024). In this snippet Collins and another speaker discuss business inefficiencies where a significant portion of expected revenue is uncollected because workers (or managers) do not track/apply billable time—resulting in firms both overpaying labor (high hourly rates) and under-collecting revenue on the back end.
I know that's probably I'm.
Trying to conservative, but.
Yeah. Think about that.
A quarter of the.
Revenue you should have is missing because people don't care about how much they get paid for a job.
Yeah. And just imagine the we see this all the time. Right. They're 50% efficient, so they're paying $60 an hour, and they're not collecting anything on the back end. It's like a double whammy.
Overpaying under collecting.
Yeah. Win, win.
How do you run a business?
So that's, that's unapplied labor. So just to kind of recap, you want to make sure that you get a detail of what is charged to unapplied. And then if there are, if they're, you know, quick loop text or things that, you know, should be applied.
