Cut staffing costs

Staffing can be one of your highest cost centers. Manage this expense and you'll be on your way to preserving one of your firm's most valuable assets and getting more bang for your buck.

Increase training, increase retention. Commit to an employee development program and you might just increase employee loyalty. Employees respond to employer sponsored programs that make an investment in their technical, professional and personal skills. From presentation skills to management training, you have lots of ways to show employees that you are willing to invest in them.

Take it outside. Outsourcing is a tool many firms use to manage staffing costs. If the expertise isn't readily available in your firm, it may cost less to hire a professional to do a task than it is to pay for the learning curve. Routine tasks may also be using valuable firm resources - take a look at who's doing what and assess if it's cost effective.

Hire right. Reducing turnover is your best bet for cutting staffing costs. Figure out how much it costs your firm to hire the wrong person and you will be ready to implement a new strategy. Develop an "employee criteria" - a list of those characteristics that your successful employees possess - and hire by it. Another solution is to hire the best person for the job - even if it costs more. In a tight labor market, it can cost less in the long run when you consider recruiting expenses and lost training time.

Learn more about hiring right at http://www.professionalcity.com/go.cfm?URL=www.employer-employee.com/.

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Upcoming CPE Webinars

Jul 16
Hand off work to others with finesse and success. Kristen Rampe, CPA will share how to ensure delegated work is properly handled from start to finish in this content-rich one hour webinar.
Jul 17
This webcast will cover the preparation of the statement of cash flows and focus on accounting and disclosure policies for other important issues described below.
Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
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In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.