Transitioning underperforming employees into unemployment is not always the most profitable choice for your business. In this video, learn how to find alternate income generating ideas for those employees.
- I've already been mentioning this as a theme … throughout this course. … But if you are going to save people's time, … and it's a big cost, you've really only got two choices. … And one is, if you've saved people's time … is then to get rid of some people. … So if you can save 10%, … on the time required to do something, … you can get rid of one person in 10. … But before you get rid of somebody, … there are some better alternatives. … And the first one is, sell more. … So if you could use those extra people to do more work, … to sell it and do it, then that would be great … because they're probably good people. … Although if you're going to get rid of one in 10, … if you get rid of the worst one of the 10, … there might be somebody quite bad you get rid of. … But if you've got 10 good people, … it just seems a real shame … to have to get rid of one of them. … So sell more instead, you know, do 11 people's work with 10. … And so I would start with an Ansoff's Matrix, … and I would think we've got existing products, …
- 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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