Personal Development, Finance and Investing For Filipinos
An investment in knowledge always pays the best interest. Financial Education is your best investment.
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There are many ways for a business to save money. But because employees are so expensive anything that a business owner can do to save labor costs often has the most impact on the business.
Hire temps. If your business is a seasonal or has occasional spikes in sales, then hire temporary workers to handle the load. You won't have the costs associated with hiring permanent staff, and when the surge is over, you can easily let them go.
Get interns. They give you the extra help you need in exchange for valuable work experience in an actual business environment.
Cross-train your employees. When you train your employees to do more than one specific job, they will be able to pitch in and help when there is a surge in business.
Offer incentives. If you want to increase productivity, give out rewards to employees who do an outstanding job. The expenditure is often worth the boost in employee performance.
Outsource sales. Instead of hiring your own sales force, use an outside company to handle sales for you. You avoid hourly wages because outsourced sales groups work on commission and only get paid for the products or services they sell.
Savings represent much more than mere money value. They are the proof that the saver is worth something in himself. Any fool can waste; any fool can muddle; but it takes something more he saves the more of a man he makes of himself. Waste and extravagance unsettle a man's mind for every crisis; thrift, which means some form of self-restraint, steadies it. - Rudyard Kipling
Source: Tech Innovations Nov-Dec 2013
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ABOUT THE BLOGGER
Ralph "Rap" was born and raised in the Philippines. A Financial Literacy Advocate. An I.T. by Profession. An Investor. A Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy). A Traveler. An Adventurous. A Mountain Hiker. A Dreamer.
Currently works his way towards time and financial freedom.