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Cost-Benefit Analysis

Collective Bargaining Settlements: A little extra preparation can go a long way in collective bargaining. Preparation could include, for example, comparative data on wages and fringe benefits paid by other crafts in the area, benchmark economic indicators, and/or market share information. If only $0.25/hour were saved due to adequate preparation, the cost savings would be significant.

Hypothetical Example:
A contractor group with 100,000 annual hours benchmarked its wage proposals using CLRC data. As a result, it was able to settle on a rate that was $0.25/hour lower than anticipated. The savings from using CLRC data would be $25,000 in just the first year, and this amount will be compounded over time.
$0.25 x 100,000 = $25,000 in just the first year!

If the one-time cost of CLRC services/products was $5,000, the return on investment would be 500 percent!

This simple cost-benefit analysis shows how preparation that brings wages closer to market rates can have a substantial financial impact. The collective bargaining support CLRC provides is a key source for associations, owners, contractors, and even labor-management cooperatives to achieve these results.