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 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.