· Reduce Utility Costs
· For a long-term cost management strategy, reduce the utility costs for your office or business facility. Cut electricity costs by putting timers on your lights, asking employees to turn off their computers at the end of the day and setting equipment on a power strip that you can turn off to prevent power leakage. Reduce water usage by installing low-flow faucets and toilets. Go paperless in the office to cut costs for paper, ink and printer maintenance. As an added benefit, these changes are environmentally friendly and can help the reputation of your company.
· With advances in technology, you can save on business costs. By installing a video conferencing and screen-sharing system, you can meet with clients on a regular basis and reduce travel costs. Replace your current phone system with a better Internet connection so you can install a voice-over IP system that uses the Internet connection and allows individual phone extensions without adding extra phone lines. You can also improve customer service and reduce the time your staff spends putting out fires by adding instant messaging services for quick communication and questions.
· Manage your costs at work by changing the way you shop. Work with your office manager or the person in charge of ordering supplies to find ways to reduce costs on products you buy regularly or in large quantities. Choose off-brands for products that are not as important to save money over time, or switch to a supplier that can give you a better deal. When you are purchasing new equipment, shop around for the best deal and maintenance plan.
· To keep a handle on the time and money that are required to seek out and train new employees and to avoid lost productivity when an employee leaves, focus on retention. Maintain open communication with your staff, provide cross-training, listen to their concerns and keep the workplace fun and friendly. By making an effort now to keep employees happy and challenged, you can extend the time they spend with your company.