Employees – Individuals who work for a business for wages or salary
To remember what employees means use the following mnemonic:
The manager would only employ Es (employees). Who work for the business in return for wages.
Employees are the backbone of business and by extension the global economy. They are also by far the highest cost of a large business. Labour costs can account for 70% or more of the total costs of a business, not including the extra costs associated such as pension contributions, liability insurance, furniture, supplies and possible healthcare benefits.