Re-evaluate Your Workforce

As your business grows and changes, reassess your current employee structure. What kind of staff is the best choice for your business? Do you need full time, part time, temporary, affiliates or independent contractors to work for you? The cost of your workforce is most likely one of your largest monthly expenditures.

Depending on the skill level of your employees, it may lower costs to have more people who work fewer hours. Skilled salaried personnel can work more hours without receiving overtime pay, but require costly employee benefits. Run a comparison of the numbers to make sure your workforce is as efficient as possible. Assign tasks and job duties to clearly define the structure of the workday. Have “busy work” that employees can do during down-time to fill their day with tasks. If you find they have too much down time, adjust their work hours accordingly.