Business and Money Tips

There are at least 10 ways where employees and employers can work together to reduce staff cost without cutting staff pay: 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 .  Focused, never get distracted when at work.  Work like the Germans with clock-like precision Have Better Team work , and productivity will rise naturally Resolve Conflicts better , and output will rise fast Reduce mis-communication and we can do more with less time Upgrade your skills weekly . Every week, invest at least 3 hours to learn something new.  Come for short, effective trainings like these T ake ownership of your work.  Never blame, give excuses or worse still, deny your mistakes Profit sharing , not overtime pay, and you'll find that people will go all the way to increase the company's profits.  Reduce Overtime . Studies show that overtime i

Because of the tight labour policies adopted by the government since 2011, every organization, from government agencies to MNCs, from small enterprises to professional firms, from F & B establishments to manufacturing, are facing labour shortage.  This has brought about the following 5 common frustrations: Overworked staff , leading to fewer people wanting to join your industry and making new people leaving faster than before. Such outcomes only aggravate the situation and leave the overworked staff even more overworked Giving Up Opportunities to Expand Business .  Business opportunities are plentiful, but there is simply no one to do the work.  Not to talk about overseas expansions, even expanding from Payer Lebar to Potong Pasir poses logistics problems for companies Customer Service Compromised .  Unfortunately customers still expect the same level of service as before, even when there are fewer people doing the work.  Many a times managers and even bosses have to roll up

It sounds funny, right?  How can we lower staff cost by increasing staff cost?  As we know, staff cost is computed this way: Staff Remuneration/Staff Output .  So if you increase staff remuneration and get a higher output, your staff cost will decrease.  Other than this, there are 4 other ways that you too can increase cost and lower your staff cost as a result: Increase training cost .  With better trained staff, their output will increase automatically.  Make sure that you send your staff for training that cost less than $200 per head (for half day ).  Most importantly, ensure that the training covers practical issues and not just some impressive theories. With PIC covering at least 60% of your training cost, your net cost is only $80 per head, and I'm sure your company can recover it easily in just 2 days.  To find out the 7 ways to train your staff, click here .  Read here to discover the 9 things that a good sales training should cover.  Increase the equipment cost .  L