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Easy Small Business HR 1

3 Money Saving Strategies To

Implement Now To Avoid Laying

Off Employees

Special Report From: EasySmallBusinessHR.com

In this uncertain economy, many small businesses are forced to lay

off workers in order to save money. Sometimes, laying off

employees is the only alternative; especially for smaller businesses

with slimmer profit margins.

Before taking such a critical step, carefully analyze whether there

are other possible alternatives that will allow you to maintain jobs

or at least minimize the number of employees to let go.

1. Trim Down or Curtail Unnecessary Expenses

Identify the expenses and company “perks” that you and your staff

can reasonably do without that will not impact your business. Do

you really need to buy a years’ supply of paper and pens when it

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may be more cost effective to monitor your inventory and

replenish only what is needed?

Eliminate or curtail the amount of catered meetings. Instead of

offering a full catered breakfast, provide just beverages. If your

used to catered lunch meetings, switch to BBL, (Brown Bag

Lunch) meetings instead. Employees are almost always willing to

forgo these “amenities” if it will prevent layoffs.

2. Consider a Reduced or Flexible Schedule For Employees

Analyze whether it is feasible for your small business to reduce the

hours of some or all of your workers. Consider the impact that the

reduced hours could have on work productivity versus the potential

cost savings as part of your analysis.

Other factors to consider when determining if a reduced or flexible

schedule may be a consideration:

Can employees arrive later in the morning or leave earlier?

Are there times of the year that are less busy where it makes

sense to close, or reduce hours of operation?

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3. Telecommuting

Are there employees whose work can be performed at home?

Potential savings include the cost of renting office space, as well as

heating, air conditioning and electricity cost savings.

When considering telecommuting for employees, it’s important to

set very clear expectations about the work to be performed while at

home. Let staff know that your expectation is that they will be

accessible by both phone and email during normal business hours

in order to respond to work related questions or issues.

These strategies are a small sampling of some of the things that

businesses can do to save money and jobs. Analyze what cost

saving possibilities make the most sense for your business and

your employees.

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