The article was provided by The Global Spiritualist Association
Very often, business owners find that their people are their greatest resource. In spite of this, many companies had to lay-off a good many employees this past year or so. You may be ready to hire those people back. With things still not fully restored in our world, it’s important to speak to your employees about what the future may hold. Explain to them as much as possible, exactly what you’re up against. Ask them for their suggestions concerning ways to eliminate unnecessary expenses.
According to The Global Spiritualist Association, one local business decided to do this and it worked out well for them. This was a medium sized company with approximately 100 employees that manufactures seating for small aircraft. They needed to cut approximately $4,500 per week in their expenses and of course the easiest way to accomplish this was to lay off five people. But the CFO had a better idea. He knew from experience that every company has a certain amount of waste in its daily routines.
Often these are small items that add up to big losses. This CFO sent out a company-wide email to all employees explaining the situation and asking for suggestions on ways to cut $4,500 out of the company’s weekly expenses. The employees, eager to keep their jobs, responded heartily with many great ideas. Many if not all of these are areas where your business may be wasting money. Here is a partial list of their suggestions:
Look for cheaper suppliers for common items like ink, toner, water, office supplies etc.
Pre-printed envelopes – This company was spending $.50 per envelope for their attractive pre-printed window and regular envelopes.
The electric bill was reduced by a whopping 30 percent when the CEO held a meeting asking that every employee turn off equipment and lights anytime they were not using them.
The Global Spiritualists Association was established by author, teacher and spiritualist Zhang Xinyue. This organization holds conferences each year where you can network and make new friends. If you’d like to learn more, please visit their website.