This is a simple yet extremely effective method of improving the productivity of an office. Dark and gloomy workplaces are often linked with depressed and stressed workers who dislike spending their work hours in the company. Research has found out that colours such as light yellow, light green and sky blue has the ability of increasing the attention of the human mind while also inducing a sense of freshness. Therefore colour your workplace with the right colour to bring out the intended performance from your employees. The ability to minimize and control operational costs has become a key determinant of the profitability of an organization. Large scale, multinational organizations who are more focused on experiencing economies of scale will not be too concerned about minimizing operational costs as they intend to maximize revenue through reduced per unit cost.
However, for a medium or small scale company this is more of a necessity and as a manager you must handle all available resources in the most financially sound manner to extract the maximum level of output at the lowest possible cost. Below are some such strategies you can adopt to your organization.
Outsourcing for cost reduction
If an organization were to conduct all the operations related to its market offering (product/service) it would incur mammoth expenses. Most of the time, in medium scale companies, such policies can become unprofitable in the long-run as several departments should be accounted for all year long despite their frequency of incorporation. This is where outsourcing comes in handy. By delegating some of the processes to third parties, a firm will be able to better concentrate on its core functions while greatly minimizing the operational cost. For example, a biscuit production company may require the services of an IT specialist once every two weeks and employing a specialist and remunerating him on a monthly basis would be a large expense. Instead, seek the services of a managed IT services Melbourne provider only when you need to.
Employ technology throughout the workplace
Technology must be identified as an opportunity for a firm to grow rather than an obstacle which gives the competitors an advantage. Efficient use of technology will have a huge impact on the overall productivity while also reducing the thousands of dollars wastefully spent on alternatives. Install motion-sensor technologies to the lighting and air conditioning systems to significantly reduce the energy costs resulting from the energy consumed when there’s no one in the premises. Switching from traditional incandescent bulbs to greener, more energy efficient light bulbs such CFL (compact fluorescent lamps), LED (light emitting diode) lights and halogen lights will help you save thousands of dollars in the long-run. Also, instead of depending too much on printed material for communications purposes, set up large displays for all the employees to see in order to communicate regarding company information to the specific levels of the office.
Bidding to reduce purchase costs
Always explore your options as an organization and when it comes to purchasing, don’t just stick to one supplier. Select several reputed suppliers and ask for bids. Be sure to properly describe the nature of the service required in a precise manner so that the terms the supplier agrees to will not be subjected to any changes later on.