Times are tough, and the first people to go are the employees. In a perfect world, you wouldn’t touch the labor bill, but it’s one of the biggest expenses in the entire company. Some workers have to go, don’t they?
Conventional wisdom says yes, but the truth is much different. After all, cutting people doesn’t save a great deal of money once the restructuring costs come into effect. And, human resources are the key to wealth, not just new tech.
People are the future, yet the company’s prospects are bleak because you’re drowning in debt. If you want to know how to survive without throwing employees overboard, then continue reading.
Shred The Paper Trail
A physical piece of paper is a comfort blanket. When the IRS comes to town, it’s easy to produce a sheet of A4 with the relevant tax info. However, printing data is old school and outdated. Even worse, it’s costly because ink and dead trees and electricity aren’t cheap. On average, a business with revenue of $10 million spends up to $100,000 a year on printing. Considering Dyrand Systems can collate and store the info for 75% of the price, it’s a lot of money to waste. Businesses are better off shredding the paper trail and going all out digital.
Disconnect The Phones
Once upon a time, offices were full of equipment. You couldn’t move for fax machines and desktop computers and telephones. Hopefully, the fax is no longer a part of the décor, and a desktop still has its uses. A landline phone, however, is obsolete. The next time you’re at work, take a look around and see how many people use their cell for business. It will be about 99% of the staff. After all, Ventura Beat says 5 billion people are connected to a mobile device. Therefore, the phones can go because no one uses them anymore.
Take A Staycation
Employees won’t like it, but it’s time to cut back on business travel. Let’s face facts – there’s no need to meet in person any longer. No one has the time and the technology exists where you can video call without boarding a flight. All you need is Skype and an internet connection and then a remote meeting is more than doable. Should you need to travel, you need to cut back on the indulgences. Everything from budget airline tickets to hotels is suitable. As long as there is hot, running water and the roof doesn’t leak, a room is a room.
According to the saying, ask and you shall receive. Well, a supplier might turn around and tell you to stick it where the sun doesn’t shine, but there’s no harm in trying. Deals are struck with the future in mind, yet things change quickly. As a result, the fees you are paying might not include the current rate of inflation or the state of the market. So, don’t be afraid to negotiate a contract and ask for a better deal.
Would you give one to your clients if they didn’t make a fuss?
*This is a contributed post