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31 Jan 2015

How Employees Make Bosses Richer in 36 Ways

Employees are often considered a cost to their employer.  Most employers think that only the salespeople and top management make money for the company, with the rest just spending money.  "All employees are simply cost" as exclaimed by one senior management of a big organization.

Is this true?  We show employers in our training "High Value Employees" (details at here) that there are at least 36 ways for every employee to make more money for their employer.  (Note: Our "12-month Weekly Execution Training Program helps companies implement all the 36 strategies with ease).

Whether you are in sales, customer service, engineering, finance, administration, human resource, operations, production, warehousing, research, quality control or technical support, you too can make more money in 36 ways in the following 5 areas:

1.  Increase Sales without Spending a Single Cent 
  1. Serve customers better, leading to more repeat business, thus higher sales
  2. Always ask for the sale or offer alternatives. Never just say "Sorry no stock"
  3. Go the extra mile: pro-actively serve your customers and they'll reward you with more repeat business and referrals
  4. Increase the average dollar sale: refer to this article for the 36 Stratagems that make McDonalds' successful
  5. Go for Gold: serve high value customers in more ways and they'll serve you with more gold
  6. Close the sale.  If you're not closing sales for your company, you're closing sales for your competitor. (See here for how to close every sale)
2. Reduce Staff Cost (Staff cost = Staff Remuneration/Staff Output)
  1. Work with your hearts, and you'll it not hard to work hard . When you work hard, hard results will arise.  Staff cost will drop naturally.  Find out the various ways to work hard at here
  2. Focused, never get distracted when at work.  Work like the Germans with clock-like precision
  3. Have Better Team work, and productivity will rise naturally
  4. Resolve Conflicts better, and output will rise fast
  5. Reduce mis-communication and we can do more with less time
  6. Upgrade your skills weekly. Every week, invest at least 3 hours to learn something new.  
  7. Take ownership of your work.  Never blame, give excuses or worse still, deny your mistakes
  8. Share your rewards. Embark on profit sharing, and you'll find that people will go all the way to increase the company's profits. 
  9. Reduce Overtime. Studies show that overtime increase staff cost more as the incremental output is lower than the incremental staff remuneration.  Give staff incentives like profit sharing instead
  10. Lesser management.  Make people self-managed and self-lead and results will leap by bounds
3.  Reduce Operation Cost
  1. Cut down wastage of materials, and do the Toyota way of stretching each material to the fullest
  2. Streamline operations.  The lesser the input, the more accurate is the output. Work like a factory with clear lines of duties
  3. Move less. Movement cost (movement of goods, tools and people) prove to the be the largest contributor to cost. Make everything easy to access and you can cut down time wastage by 10% daily
  4. Automate. Use the Productivity and Innovation Credit (PIC) from the Government and Get $375,000 cash until 2017.  Read all you can on PIC at our blog
  5. Outsource if your cost is higher than others
  6. In-source if you need more precision and more flexibility
  7. Over-train your people.  When people know more than what is required on the job, their productivity leaps like a Ferrari.  Make money from your training at here
  8. Purchase Smartly. Successful purchasing strategies save you more time and more. 
  9. Engineer and Re-engineer your operations.  Never do things the same ways as before. Automate to the fullest and adopt the best engineering practise
  10. Improve your product or service quality by 1% every day
4. Finance
  1. Adopt Cash Flow Success strategies and be financially intelligent in 7 ways like here
  2. Reduce Accounts Receivable with credit and sales strategies
  3. Pay your suppliers faster than others and ask for better discounts and deliveries from them
  4. Get Free Money from the Government - PIC, SMART program etc
  5. Budget for everything and never spend anything that is not budgeted or exceed the budget
  6. Use Other People's Money - suppliers, customers, government, sub-contractors and agencies.  
5.  Management
  1. Hire, Inspire, Admire, Develop and Retain Talents.  Make your people better than themselves by becoming a better manager and a great boss
  2. Strengthen Accountability - everyone must account to someone, including the Chairman
  3. Reduce Stress and Make people Happy at work, refer to this guide for help
  4. Toughen your Culture. Copy how Google works with Unconventional Management Strategies, get a glimpse at here
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