Employee Cost Saving Ideas

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Employees can make up one of the largest expenses for a company. When businesses need to save money, but do not want to do it at the expense of losing invaluable employees, there are ways to save money on personnel expenses without eliminating positions within the company. Some of these cost-saving ideas will take some getting used to, but these changes will be easier for employees to handle over searching for a new job.

Reduce Cell Phone Bill Charges

  • One of the benefits a company may offer is use of a company cell phone. On the other hand, a job may require that employees be accessible at any time of the day, so they have access to a company cell phone for this purpose. Ways to cut cell phone costs include using pay-as-you-go plans for employees who need limited use of a cell phone, such as employees who serve as after-hours emergency contacts. A company also can choose to block special features on a phone that may not be necessary for business purposes, such as text messaging, application downloading and web-browsing capabilities. Forbidding downloads and streaming videos that are not free can help cut costs.

Use Contractors

  • If you need the help of a professional but cannot hire one full time, consider using a freelancer or contracting service. When you contract work out to others, you do not have to worry about paying them benefits, paying workers' compensation insurance or making sure there is enough space for a new employee at the office. Moreover, contractors are only paid for the work they complete. You can hire a contractor to provide writing services, IT support and even remote receptionist services.

Allow Telecommuting

  • Allowing employees to telecommute can do more than just help the environment. If employees are allowed to telecommute full-time, you can downsize the amount of office space needed, which can allow you to run a business without needing to spend as much on rent. Additionally, according to CIO, telecommuters are as productive, if not more, as those who work from an office.

Reduce Training Costs

  • Employee education is sometimes a necessary cost, but a business can save money on training expenses by using online training resources or online classes that are moderated by an expert, computer-based training software and using video-based training. Another way to save on training costs is to collaborate with or piggyback on other area companies who offer similar training initiatives for free or a low cost.

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