By Nathaniel Davis
When it comes to companies saving money, the first go to is labor. What organizations don’t understand that when cutting labor in the short term, it can cost you in long term. So instead of cutting your labor force, there are other methods that can benefit your organization. I have listed a few decisions that can keep your labor force intact while saving money.
- Four-day Work Weeks
- Voluntary or Enforced Furloughs
- Unpaid Vacations
- Removal of Bonuses
- Wage Freezes
- Pension Reductions
- Flexible work schedules
- Reduction of Travel
- Reduced Office Supply Purchases
- Reduced Equipment Purchases
These are just a few measures that can minimize your organization’s costs while retaining good and skilled labor. Why would you want to get rid of “good” people who are “skilled” and add “value” to your organization? A few changes can go a long way while keeping your organization fully staffed and effectively functioning.
Nathaniel Davis is the Owner and CEO of SWIPE Consulting.