≡ Menu

A Heavily Regulated Business Market

Heavily Regulated Business Market

America has a lot of success silhouetting its business operations; but currently there have been so many tax and bureaucratic strictures imposed from the top-down by a government decidedly hostile to business that many organizations have outsourced beyond the country. Those that can’t do this politically, or aren’t large enough to make such an extra-national move feasible, must instead find ways to tighten their financial belts, so to speak, at home.

Bureaucratic business measures will ebb and flow over time, but being especially diligent to consolidate all resources in a perpetual way has a heightened chance of saving money and providing funding for further expansion.

Find Simple Ways To Curtail Expenditures

Are there expenditures that are costing your office unnecessarily? How about the coffee cups—the styrofoam ones by the coffee machine in the break room? They make a huge mess, cost two dollars per bunch, and you go through ten bunches a week. That’s $80 dollars a month, or $960 a year. Then there are paper towels, sugar, coffee filters, paper plates, plastic sporks—you probably spend $1000+ on the break room alone every year.

Well, here’s an option: go “green” by facilitating a new policy wherein workers can still do the same things they used to in that space, they must just bring their own plates and cups, etc. Caveat by providing free coffee in a bulk purchase that undercuts your previous yearly spending. This makes workers feel special, and the “green” onus on diminishing your environmental footprint isn’t something that can really be argued against from any angle—plus it’s good PR. If your business is a chain of stores across the country, you could save a thousand per installation per year on each one. If you’ve got 20 chain stores, that’s $20,000 a year from one little change. But if you’ve got an organization that large, there’s another way to save even more.

Use Technological Innovations At Your Disposal

Find web timesheet tools and use this as a means to replace the payroll department. Modern internet time-keeping software follows employees wherever their smartphones go. Employees can clock in when they enter the premises and clock out when they leave, automatically. You can keep them on more exact schedules, precluding clock-milking as well.

Consider this. 5 additional minutes per employee per day in a 5 day work week is 25 minutes a week,100 minutes a month,1200 minutes a year—on average. If you’ve got ten employees in one installation pulling such shenanigans, you’re looking at 12,000 wasted minutes every year. That’s 200 hours. At $10 to $20 dollars an hour, that’s $2000 to $4000 a year. Now that doesn’t account for the payroll department, keep in mind. A five person payroll department drawing 800 hours a month (40 hours per employee per week, multiplied by 5 employees and 4 weeks) is drawing 9,600 hours a year. At the same rate, that’s between $96,000 and $192,000. What if you could install internet timekeeping software maintained from the cloud and cut that figure down to between $19,200 and $38,400 by only having one employee managing payroll? The point is, with timekeeping software installed, the minimum you stand to save every year is $2000. The maximum, including benefit packages, stock options, and hourly rates? $100,000+.

Crunch the Numbers

The more you save, the more money you can devote toward expansion and development. A business is like a shark that must remain swimming or face demise: the business must also keep expanding, or it dies. Online timekeeping is a great way to trim the fat.

{ 0 comments… add one }

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.