Read below for a number of excellent ways to cut labour and production costs at your business to improve overall revenue and profits:
1. Hire Interns
Do you have employees or part-timers handling simple tasks that require no professional experience or expert knowledge? That’s a big waste of money on labour. Instead, hire unpaid interns to handle easy tasks in return for school credit and job experience. You don’t want your accountants valuable time be taken up by making coffee for everyone. Therefore, call temp recruitment agencies Sydney and get unpaid interns to handle all the cumbersome and monotonous tasks.
2. Eliminate Paper Usage
Sometimes, the best ways to save money are the simplest ways. Do you spend thousands of dollars each year on printing paper alone at your office? If your employees are in the habit of printing each memo and receipt, then this is not such a surprise. You can save all the money you waste on paper by digitizing certain tasks. For example, instead of having employees print everything to share between each other, make them use an app like Asana or the share feature on Skype to exchange documents among each other. If you provide paper invoices to clients, make them into e-receipts that customers can receive by email on their laptops or mobile phones. Eliminate all paper usage that can be transferred onto a digital device, and only buy paper for the most essential tasks like legal documents.
Do you have employees doing cyclic or short-term projects during certain months, but mostly nothing during other months? You are wasting a ton of money on labour. Ideally, only the tasks related to the core business of a company should be handled by in-house, fulltime employees. Everything else should go to temp agencies or be outsourced. If you have cyclic tasks like redesigning the website, or quick projects like organising an event, these should be outsourced pronto.
4. Use Solar Energy
Do you know how much money you spend each month on electricity alone? If you are planning to continue doing business at your current location on a long-term basis, consider investing in solar energy. Solar requires a considerable upfront payment to set up, but from then on, you won’t receive electricity bills except on cold, sunless days. Do the calculations and see if going solar in more cost effective for your company. If it is, by all means go green.
Also, invest in time saving software and switch to cloud based storage to save time, space, and a lot of money each year.