HR & Employment Law Insights

Helping family businesses, start-ups, charities, social enterprises, and other growing or established businesses throughout the UK make sense of HR and Employment Law challenges.

With finances being tight in recent years many employers ae looking for ways to make cost savings in the workplace, in a way that prevents them from having to sacrifice quality. With a little thought and effort, there are many things you can do to cut costs in the workplace and here are a few of our best suggestions.

Outsourcing work

Whereas in the past it was only large businesses that outsourced work to other companies, today businesses of all sizes can cut costs by outsourcing. The most common tasks that are outsourced include data entry, customer support and payroll processing. By outsourcing specific tasks to a contractor you can simply pay a monthly fee for the service, rather than having to commit to hiring someone full time to do the job. This can save you a lot of money as not only will you not have to account for a salary, but employee benefits like holiday or sickness pay either.

Shop around for the best gas and electricity suppliers – keeping in mind that you don’t have to go with one of the big providers!

Shopping around for the best suppliers

Unfortunately you cannot get out of paying fixed costs like your electricity and gas bills, but that doesn’t mean you can’t shop around for a better deal. Although the market is dominated by a few major suppliers, there are smaller suppliers out there, who will want your business just as much, if not more! Stimulate competition for your business between the suppliers and you may be able to secure yourself a much better deal.

Switching off electrical equipment

Turning off lights, computers, printers and photocopiers may seem like an obvious thing to do when you leave the workplace in the evening, but you will be surprised at the number of people that forget. By turning electrical items off before leaving the workplace, you will not only be doing your bit for the environment, but saving on the cost of your company’s electricity bills too! Installing timers or smart control systems can also prove to be very useful, especially if your employees are particularly forgetful!

Spend time making sure that you are only re-ordering essential office supplies and you could save your business a lot of money in the long run!

Ordering office supplies efficiently

It can be easy to get carried away when ordering office supplies. Often products are re-ordered just because they are on the list and not because they are actually being used. Spend a little time taking note of the office supplies that get used the most and which are not being used. Once you know your ‘core products’ find out if your supplier is offering you the best price. In order to do this you will need to check out other suppliers and get quotes. Do not be afraid to barter!

Toners and cartridges take up a significant part of a business’s office supplies budget. Although these are office necessities, it doesn’t mean you necessarily need to buy the original manufacturer’s products. Ask your supplier if they have any other toners that are compatible with your printer. Often you will find that other brands provide products of the same quality, but at a much more affordable price.

Conclusion

Making cost savings in the workplace isn’t actually as hard as it sounds. There are many things you can do to make savings, without compromising on quality. If you are willing to be open-minded and are not afraid to implement changes, you are certain to reap the benefits! Even the smallest of savings you make will add up and lead to much larger savings in the future. If you struggle to see the savings you could be making yourself, you may want to consider working with an external company that will review your expenditure and help you to become more cost efficient!

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Image Credits: Anton Fomkin and Joelk75