Businesses succeed by harnessing creative, inventive ways to progress and grow. All businesses, especially light industrial and manufacturing companies, must learn to play smart and discover ways to utilize every resource that can boost that bottom line.
You will quickly discover that a lot of time and money can be spent in the hiring process, and that there are many ways to cut costs without cutting quality. Need to cut a few costs to help keep your employees productive and your business profitable? Here’s how:
Avoid Paying Hefty Overtime Fees
You can save on overtime by hiring contingent labor to work on special projects or routine assignments. They can even tackle the day-to-day operations while your permanent employees focus on keeping up with bulk orders, take time off for training or work on securing new projects. Save hiring costs and get maximum productivity from your current staff by bringing in a highly trained contingent workforce.
Balance Cost with Need
You need three skilled machinists and one team lead, but your budget only allows for three new employees. Allow for some flexibility by merging positions, adding additional responsibilities or getting creative with the schedule. Tackle this challenge by looking ahead and making a decision that won’t just benefit your company right now, but also five or ten years down the road.
Offer Work-Life Benefits Over Money
Attract the right kind of employee by enhancing the compensation package. Sure a higher salary is nice, but extra vacation days can be just as alluring. Think about the nonfinancial benefits you can provide to your employees that will make them happier and more satisfied working for your company than any other.
Promote Your Star Workers
If you’re looking to boost the bodies in management, start by looking at your current talent. Look in departments or areas that may have more employees than they really need and promote from within. A little extra on-the-job-training can often be more economical than hiring outside the company.
Work on Reducing Turnover
Keeping your employees employed means keeping them happy. High turnover rates can be incredibly costly. If you find yourself hiring a new machinist or administrative assistant regularly, it might be time to analyze your workplace environment. Implement an employee recognition program, start an annual family picnic and take the time to open your door and talk with your staff. Reducing turnover is one of the easiest and most effective ways to cut steep hiring costs.
Malone Staffing Solutions can help.
We provide businesses just like yours with solid staffing solutions:
Staffing Solutions – Variable Workforce for Multiple Industries
Professional Solutions – Direct Hire & Contract Personnel
Government Solutions – Top Talent across Multiple Local, State & Federal Agencies
Training Solutions – Enhance Your Staff through Training & Coaching
Technology Solutions – Workforce Technology to Increase Efficiency & Reduce Costs
Healthcare Solutions – Supplemental Staffing, Private Duty Staffing & Travel Nursing
Do these options sound like the solution to your staffing needs? Grow with Malone Staffing Solutions. Give us a call or email today and discover the many ways you can save time and money, and boost profits by partnering with the country’s leading workforce resource.