From the course: Cost Reduction Tips - How To Cut Costs And Maximize Profits

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Wrap up

Wrap up

From the course: Cost Reduction Tips - How To Cut Costs And Maximize Profits

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Wrap up

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- So we finished the section on saving money via people. People are your biggest cost but the difficulty with this section is that any changes you make have to then be followed by getting rid of people or doing more with the people that you've got. Which always feels like a bit of a shame but never the less people are your biggest costs and if you can save, you know 10% on your people costs that can could double the profitability of your organization. If you're making 4% profit and the people price goes up by just 2% half your profit's gone. So people are a significant cost and although it's not easy, I think it is really important to question the cost of your people. But there are other areas where you can save money as well and that's what we're going to get on to next.

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