Having more staff sometimes is not the best option, especially if there aren’t enough gains in the company, if it’s a company starting up, or if you prefer to focus and have an excellent multitasking staff. Betting on your workforce and valuing your team plus giving them the proper training, can be a good option for success. Here are five of the smartest ways to keep your business’s staffing costs as low as possible.
Onboard staff properly
One of the smartest ways you can reduce staffing costs is to make sure you onboard staff correctly when they first come to work for you. Onboarding is a process that makes sure a staff member is not only welcomed and made to feel a part of a team but is also given the information and training that allows them to work to their full potential as soon as possible after starting.
Indeed, as the recruiting part of the process is the most expensive, you will not want to lose someone you have just employed. The good news is that by making sure they are as integrated in their role in your company with good onboarding you can help minimize the risk of this happening.
Use workforce management software
Another way you can reduce staffing costs is to use specialist workforce management software in your business. There are many benefits to doing so including getting ahead of all sorts of staffing problems like attendance, punctuality, and scheduling before they become a major issue that will cost your business money.
Some workforce management software even helps you to predict how many people will leave over a certain period. This means you can put the resources in place such as HR exit meetings, and advertise for new workers ahead of time, making the transition much smoother, and less costly.
Pay them well
Yep, it might seem contradictory to talk about high salaries when you are looking to reduce staffing costs. However, it is about short-term versus long-term gains here.
For instance, if you pay poorly then you can save money in the short term, but you will have to manage all the difficulties that underpaying can cause such as substandard candidates, lack of productivity and motivation, and lower retention rates overall.
Indeed, losing many staff, or people critical to your organization will cost you dearly in the long run it’s often better to take a smaller financial hit by paying them well in the first place.
Use temporary staff
Last, of all, you can help keep your staffing costs low by using temporary staff. There are many benefits associated with employing temp staff only for the duration they are needed, instead of going through the often expensive process of recruiting and training someone full-time.
Indeed, because you will only pay them for the days they are needed, you can make significant savings on your staffing costs. You’ll also be able to respond to increased demand very quickly, making your business more agile, and able to meet the needs of your customers.
Minimise absenteeism
Last of all you can keep your staffing costs low by doing all you can to reduce absenteeism in the workplace. One of the best ways of doing this is to invest in the health and well-being of your staff, by providing them with free or discounted gym memberships, which should help boost their mental and physical health and lower the number of costly days off they take.
