Money Saving Strategies by dovercomer7

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									 3 Money Saving
  Strategies to
Implement Now to
 Avoid Laying Off
   Employees

                 By: Dianne Shaddock




    © 2010 Easy Small Business HR. All rights reserved.
    3 Money Saving Strategies to
  Implement Now To Avoid Laying
          Off Employees

         Special Report From: EasySmallBusinessHR.com


In this uncertain economy, many small businesses are forced to lay off
workers in order to save money. Sometimes, laying off employees is the
only alternative; especially for smaller businesses with slimmer profit
margins.
Before taking such a critical step, carefully analyze whether there are other
possible alternatives that will allow you to maintain jobs or at least
minimize the number of employees to let go.
1. Trim Down or Curtail Unnecessary Expenses
Identify the expenses and company “perks” that you and your staff can
reasonably do without that will not impact your business. Do you really
need to buy a years’ supply of paper and pens when it may be more cost
effective to monitor your inventory and replenish only what is needed?
Eliminate or curtail the amount of catered meetings. Instead of offering a
full catered breakfast, provide just beverages. If your used to catered
lunch meetings, switch to BBL, (Brown Bag Lunch) meetings instead.

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                       © 2010 Easy Small Business HR. All rights reserved.
Employees are almost always willing to forgo these “amenities” if it will
prevent layoffs.
2. Consider a Reduced or Flexible Schedule for Employees
Analyze whether it is feasible for your small business to reduce the hours
of some or all of your workers. Consider the impact that the reduced
hours could have on work productivity versus the potential cost savings as
part of your analysis.
Other factors to consider when determining if a reduced or flexible
schedule may be a consideration:
     Can employees arrive later in the morning or leave earlier?
     Are there times of the year that are less busy where it makes sense to
     close, or reduce hours of operation?
3. Telecommuting
Are there employees whose work can be performed at home? Potential
savings include the cost of renting office space, as well as heating, air
conditioning and electricity cost savings.
When considering telecommuting for employees, it’s important to set very
clear expectations about the work to be performed while at home. Let staff
know that your expectation is that they will be accessible by both phone
and email during normal business hours in order to respond to work
related questions or issues.
These strategies are a small sampling of some of the things that businesses
can do to save money and jobs. Analyze what cost saving possibilities
make the most sense for your business and your employees.

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                       © 2010 Easy Small Business HR. All rights reserved.
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