Change Your Cost Cutting in 2019
2018 has been a challenging year for many SMBs with business costs soaring due to increased interest in technology and the growing concern for compliance and security. The ‘big boys’ have deeper pockets making it hard to keep up, so many smaller businesses are looking at cost-cutting strategies for the year ahead.
When many businesses are looking to outsource parts of their operation they look at how many people they can hire for a fixed rate. However hiring a certain number of people doesn’t guarantee specific results. Here’s a better idea: Reduce your labour cost by only paying for outcomes.
The seat/resource lease model is firmly entrenched in the outsource industry, with good reason, but have you looked at the costs you have to shoulder when you pay per person rather than per outcome?
Staff salary and beyond
Of course, fair compensation is a must. But you also have to adhere to all government and legislative requirements and policies, which means additional costs that can add up quickly. Then there’s retention. It can be hard work, and sometimes costly to make sure that every staff member is happy and engaged. If they aren’t you may find that they’ll just up and leave in this competitive environment which means you need to recruit and train over and over again.
Your time and energy
From advertising your job vacancies to interviews to on-boarding training to benefits enrollment to tax forms, you can be sure that your time and energy will not be focused on your core business. Instead of catering to your customers and adding value by addressing what they really want [READ: The One Thing Your Customer Really Wants], you’re inside closed doors, inaccessible from your customers, bogged down in paperwork.
The adjustment period and lessened productivity
According to Cision PRWeb, 8 months is the average time for a new employee to be fully productive as they adjusts to their new environment. During this time, the functions assigned to them would be completed at a slower pace than usual as they learn the software, workflow, and process for the job. During this time too, the risk of losing customers is high and for business to slow down as well.
So if you don’t like the sound of these costs are you willing to explore an alternative option?
Hiring more staff won’t necessarily result in higher outcomes; but our Lite Solutions have been specifically created to do just that. These solutions were specially formulated to get you better results while sparing you from the inconvenience and cost of hiring and retaining additional staff.
These solutions are our craft.
We got rid of all the redundancies and complexities of hiring and staff retention by doing all of that for you. Our team of experts are ready to grow and transform your business.
Have a chat with them today.