{"id":1242,"date":"2019-02-25T14:00:15","date_gmt":"2019-02-25T22:00:15","guid":{"rendered":"https:\/\/addison.lwh.dev\/insights\/reduce-costs-without-hurting-morale\/"},"modified":"2019-02-25T14:00:15","modified_gmt":"2019-02-25T22:00:15","slug":"reduce-costs-without-hurting-morale","status":"publish","type":"post","link":"https:\/\/addisongroup.com\/insights\/reduce-costs-without-hurting-morale\/","title":{"rendered":"How to Reduce Costs Without Hurting Morale"},"content":{"rendered":"\n<p>You realize the need to reduce costs. Now you must consider where, when, and the effects of the cuts on your business.  You don&#8217;t want to reduce costs at the expense of employee loyalty.  Knowing that employee and customer confidence and loyalty go hand-in-hand, adds another dimension to your dilemma.&nbsp; <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The Bottom Line: Reduce Costs Without Losing Quality<\/h3>\n\n\n\n<p>Your goal is to reduce costs to improve your bottom line. <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Take time to\nreview the factors that add the most value to your business quality. Prioritize\nthese, moving those with the highest quality yield to a \u201cwait-and-see\u201d column.\n<\/li><li>Engage employees\nin the expense review process.<ul><li>Requesting employee\nparticipation helps morale and adds potentially useful ideas.<\/li><\/ul><ul><li>Those working\ndirectly with tasks know how to streamline processes, and therefore costs.<\/li><\/ul><ul><li>Employees who\nwork with customers know the factors that add the most value to your\nservices\/products.<\/li><\/ul><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Employee Associated Expense Reductions<\/h3>\n\n\n\n<p>Audit staff related expenses,\nfrom space and travel, to salary and benefits. Keep an open mind as you find\nmethods to creatively save money and morale.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Explore flex time\nand telecommuting. <\/li><li>Reduce\nmeeting\/conference\/travel expenses by meeting online and purchasing downloads\nof conference materials.<\/li><li>Review benefits\npackages to determine if you are receiving the most cost-effective benefits.<\/li><li>Determine if any\nbenefit contracts can be renegotiated for fiscal conservation.<\/li><li>Work with\nemployees to identify perks they can do without in favor of preferred options.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Reduce Invisible Consumables<\/h3>\n\n\n\n<p>Electricity and technology\nare necessary, yet each offers opportunity for cost reductions without limiting\nquality. Employees can help you identify cost-saving ideas.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Save on energy.<ul><li>Equipment that is\nturned off still costs money because of a draw on phantom\nenergy. Plugging devices into accessible power strips helps\nreduce energy expenses.<\/li><\/ul><ul><li>Conduct an energy\naudit to determine if air and heating systems are current and well maintained. <\/li><\/ul><ul><li>Consider\nenergy-efficient lighting.<\/li><\/ul><\/li><li>Look at\nconnectivity costs. Are you getting full advantage of your tech dollars?<ul><li>Are you using\ntechnology that is not giving a good return on investment?<\/li><\/ul><ul><li>Negotiate a package\nthat may upgrade quality as it reduces costs.<\/li><\/ul><\/li><li>Review credit\ncard fees for hidden losses.<\/li><\/ul>\n\n\n\n<p>For more employee morale advice check out <a href=\"https:\/\/dlcinc.com\/management-tricks-to-make-you-more-likeable\/\">Management Tricks to Make You More Likable <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You realize the need to reduce costs. Now you must consider where, when, and the effects of the cuts on<\/p>\n","protected":false},"author":9,"featured_media":1243,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[11],"tags":[],"post_function":[],"post_audience":[],"class_list":{"0":"post-1242","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-article"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How to Reduce Costs Without Hurting Morale - Addison Group<\/title>\n<meta name=\"description\" content=\"You don&#039;t want to reduce costs at the expense of employee loyalty. 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