Reduce Unwanted Costs

When it comes to running a business, there are a lot of costs involved. Things like stationary, offices, stock, staffing and much, much more.

When you are working out the cash flow of your business, you definitely do not want to see any unnecessary expenses! But as your business grows there will be some things which fly under the radar for a while, until they become a real issue.

In this blog post, we are going to go on a journey to discover how you might find yourself in a position of spending more than you want or need to, and then uncover what you can do to reduce that extra expenditure.

To begin this journey I am going to take you back to the beginning...

You have an idea, a passion, a way that you are going to change and improve the lives of so many people. It could be an innovative product or service and it is going to change the way people live their lives. You set up your business and after 3 years of hard work you are now making a profit and your business has grown from just you at home into a large office and 200 employees. Congratulations, that is an incredible accomplishment!

One sunny afternoon you are sitting with your accountant comparing the number of sick days you have paid for over the last 3 years and you have seen a steady increase in the % of sick days per person every single year. You knew you were going to have to pay for some sick days, but this was something else. How had it gotten so out of hand? You hadn't been hiring your employees from their hospital beds!

You feel the clouds developing and the rains begin to fall, it is not a sunny afternoon any more. You have to do some further investigation to find out what was happening and why so many people were calling in sick so often. And that is exactly what you did.

After reading through what seemed like a Mount Everest sized pile of paperwork, you have discovered that the main reason your staff are calling in sick is due to stress.

Well, that was a shocker. You had expected a high standard of work, but not so high that it should have caused this much stress.

You have located the issue, but what are you supposed to do now?

Here are a few tips to help you change your companies culture from one of stress into a place where people are excited to come to every single day.

  • Introduce mindfulness into your culture. This does not have to cost any money at all. All you need to do is, do a bit of research into mindfulness practices and use a bit of imagination to figure out ways to implement it with your staff. This could be a great way to make sure that the environment is as calm as possible and as a result, people are making better decisions leading to smoother runnings of the day to day operation. Here are some great resources to get you started.
  • Give Mental Health First Aid a try. If you have a budget available, consider employing an external company or charity to come in and have a day or two of mental health first aid training. This is an extremely valuable way to teach the people in your organisation about caring for themselves and others, which will allow your staff to be on the lookout for signs that someone may be in need of help and pick that up before it gets to the stage of someone needing to call in sick.
  • Create an environment that is motivational. The first two points are likely to be big culture changes which means it will be hard for your people to adapt. That is just human nature, so you need to support them with this change by surrounding them with reminders about good mental health, positive mindsets and supporting one another. You can do this by booking a free consultation with a Bee-Key consultant to discuss strategic ways you can place reminders around your working environment.

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