One of the greatest limited resources in labor costs is time. In this video, learn several potential time wasters in your workflow.
- So the first area where people's time, … which is the same as money, gets wasted … is bad time management. … So for example, allocating your time … to things that are unimportant. … And people often really haven't thought … about what's important and what is unimportant. … So for example, if you are in sales … you might spend your time fiddling with the database, … and making a nice neat spreadsheet … rather than actually phoning up new prospects, … 'cause clearly it's less scary to do that. … But you'd be allocating your time … to unimportant things. … And the most important thing … is contact time with customers, … either talking to new ones or looking after existing ones. … So that's an example of importance. … And sometimes people are dragged off course … because they do urgent things rather than important things. … And yes we have to do urgent things, … but we must always make sure we spend some time everyday … on important things. … Another aspect of time management might be interruptions, …
- Different cost areas affecting your business
- Comparing cost vs. income
- Enhancing your work environment
- Focusing on the most important management tasks
- Getting better deals on raw materials and labor
- Recognizing your optimum quality level
- The hidden costs of subcontracting
- Where to avoid cutting costs
- Top ten cost-cutting actions to take
Skill Level Beginner
What to expect1m 3s
1. What to Reduce
2. Reducing Labor Costs
3. Costs Other Than People
4. Top 10 Tips
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