Every business has to watch expenses carefully. A successful business needs employees who do their best to cut costs, avoid waste, and make do when they can’t afford better
Many workers may think there’s not much they can do about costs—that these decisions are made in the accounting office. But that isn’t true. The company’s costs depend a great deal upon the employees and the decisions they make every day. It’s management’s job to make sure that each and every worker is aware of that fact.
The people who can contribute the most in cutting waste and controlling costs are the people doing the job. They can spot a waste of time and materials and can also see ways to save on both. For example:
- Are they economical in their use of materials, tools, and equipment? These items are essential for their job, but no one should waste things just because they happen to be available.
- Are they hoarding supplies? Imagine the cost if everyone decided to build up his or her own stockroom. Multiplied many times over, even the smallest items cost hundreds and thousands of dollars.
- Do they question how money is spent? Cost-conscious employees give their employer a decisive edge in the marketplace.
It’s up to supervisors to impress upon their employees that each worker is important in saving money, even a little at a time.
Big savings come from little savings multiplied over and over. Just ask Benjamin Franklin.