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.
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