METHODS TO SAVE ON PERSONNEL EXPENDITURES IN COMPANY EXPENDITURES

Saving money on personnel expenses is critical. When cutting costs to reduce company expenses, employee morale and motivation should not be negatively impacted. Low-motivated employees can negatively impact productivity. While trying to save money, we can harm both productivity and employee loyalty.

Therefore, it's important to consider the potential risks when making savings. When making savings, company expenses should be managed in a controlled and orderly manner. It's best if these expenses are logical and planned. Uncontrolled and excessive, unnecessary spending can negatively impact the company's budget.

To avoid this, you need to manage your company's expenses in a planned and controlled manner. In addition to planning and controlling your expenses, budget management and how to save money are also crucial. We've included some examples in our article about various methods suitable for your company to achieve savings.

 

Personnel planning

One way to save on company expenses is through personnel spending. Personnel expenses are crucial for the company's budget. If you want to save on personnel budgets, it's beneficial to plan the work to be done and proceed accordingly, rather than working unnecessary overtime. In addition to regulating working hours, you can ensure proper task allocation and reward high-performing employees based on their performance, while providing opportunities for development for underperforming ones. In short, by assigning the right personnel to the right people, you can save on personnel expenses.

Offer Employee Development Courses and Seminars Online

Offering online training to improve employee performance can save both the cost of training preparation and personnel expenses. Offering online courses and seminars is highly advantageous for employees, as it saves on company expenses and allows them to develop themselves. Offering employees the opportunity for self-improvement while working increases their loyalty to the company. By conveniently advancing their development, employees also increase their performance and productivity.

 

Hybrid Working and Flexible Working Hours

Working from home on some days of the week and working from home on the remaining days is now a popular choice in many companies. This working system saves on company expenses. It allows for a lower budget for expenses like office expenses and transportation.

It's also quite advantageous for employees because employees can work from anywhere they want, choosing the comfort of their own space. Instead of traditional working hours, choosing the most convenient working hours for each employee can also increase productivity.

Providing high productivity in a short time can save the company money allocated for completing a task. These work modules provide both employee comfort and savings on company expenses. They increase employee satisfaction, company loyalty, and employee performance.

Savings on Meals and Transportation

 

Meals and transportation are among the largest company expenses. Saving money in these areas can be highly beneficial. You can set a daily limit for meal expenses and negotiate with nearby restaurants or other food vendors. You can provide your employees with meal cards or meal vouchers. You can create a daily menu for your company and arrange for a group meal every day by partnering with catering companies.

You can offer public transportation instead of shuttle service. Working remotely a few days a week also saves you money on transportation costs. Or, you can utilize the carpool system by pairing employees with others who share the same route. Encouraging employees who live close to the company to cycle can be both beneficial and environmentally friendly. Regularly reporting and monitoring travel and meal expenses monthly can help you consistently save money.

Beyond the examples we've provided, you can also manage your expenses by saving in many other ways.