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

Unlock this course with a free trial

Join today to access over 22,400 courses taught by industry experts.

Your company culture

Your company culture

- So the companies that I've looked at, quite often, their biggest cost problems come from their culture. So, some companies I've been to have a very fancy head office for example. And, are you wasting too much time on trying to look important or on your head office when really the operating units could do with the money? Another cultural aspect is fear of the unions or a very weak HR department or a useless occupational health department. So the problems with the labor force are not addressed and that could be wasting a lot of money. So that might be worth doing something about. And in some organization, sickness is the norm. Yeah, everybody has 10 days a year. People say, oh, I haven't used up all my sickness yet. They know that if they take more than 10 days they'll be in trouble, so they go right up to the 10. If you only had five sickness days, what are you doing? You could have had five more days. So we sickness the norm and that's a cultural problem that's really expensive. And…

Contents