• Post category:StudyBullet-15
  • Reading time:10 mins read


Business cost reduction course: Learn the techniques to reduce your business costs and control your budgets, today!

What you will learn

How to reduce costs in your business

Techniques to reduce costs and keep them lower

Compensation, office, equipment etc. cost reduction activities

Risk, resource, ROI etc. considerations to be made

How to save your business money and control your budgets

Description

The cost of doing business continues to rise, company by company, industry by industry, year on year. It is something being faced by businesses of all sizes, and to counteract this, they are looking at their P&L statements wondering where they can find savings. Luckily for them and for you, there are a number of areas on those P&Ls which can be targeted with precision to reduce costs in both the short and long term, to help keep those organizations on a stable footing.

In this course, we will explore the range of options you have at your disposal when it comes to reducing the cost of doing business. From your compensation budget to equipment, 3rd parties to marketing, expenses and systems, there are so many options for you to explore.Β Within this course, we explore them ALL, looking at what they are, how you can practically deploy these and give a range of examples to back these up, with evidence.


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We also provide a range of tools, techniques and downloadable resources for you to use during and after the course, to plan and map out your approach, based on what works best for you. This course is all about giving you the huge range of options available, not telling you what YOU should do. We give you the power to decide what is best for you, based on all of the options we put on the table.

We cover several business expense types, discuss the consdierations you need to make when approach these costs (such as risk, communication, timelines etc.) and break the course up with a range of examples, demonstrations and real life case studies – all with the aim of making this content accessible to all. If you want to save your organization money both today and in the future, this is the course for you.

English
language

Content

Introduction

Introduction
Purpose of the course
How the course will run
Scenario

Steps to follow

Prework questions
Review P&L statement
Conduct first analysis
Make a plan

Compensation

Review of the findings
Review all vacancies
Freeze vacancies
Cancel vacancies
Review vacancies – example
Review all job roles
Review all roles – template example
Review all job roles – conclusion
Review all job roles – example
FTE calculations
FTE calculations – FTE calculator
FTE calculations – analysis
FTE calculations – recommendations
FTE calculations – benefits and drawbacks
Offshoring
Offshoring – how to do it
Offshoring – considerations
Offshoring – example
Automation
Automation – case study
Restructuring
Restructuring – example
Junior employee opportunities – examples
Reduce use of contractors
Reduce use of contractors – example
Overtime – set the scene
Overtime – the investigation
Overtime – conclusions
Overtime – delivery of change
Overtime – outcome
Performance related pay
Additional – pay rise cut, freeze or delay
Additional – bonus cut, freeze or delay
Change bonus eligibility
Additional – performance related to goals
Additional – eliminate coordinator type roles
Final comments

Expenses

Review of the findings
Meet remotely
Meet remotely – culture and benefits
Change policies
Change policies – list of policies
Change policies – benefits and drawbacks
Change training approach
Additional options
Final comments

Office

Review of the findings
Go completely remote
Go completely remote – considerations
Adopt a hybrid approach
Adopt a hybrid approach – costings
Reform facilities management approach
Reform facilities management approach – approach to take
Reform supplies approach
Final comments

Systems & subscriptions

Review of the findings
Find alternative providers
Find alternative providers – How?
Find alternative providers – What?
Find alternative providers – the results
Merge systems
Final comments

Marketing & advertising

Review of the findings
Review performance
Review performance of sales & social media
Review performance – benefits and drawbacks
Review the set up
Review set up – 4 types
Review set up – benefits and drawbacks
Final comments

3rd parties

Review of the findings
Change contract approach
Change contract approach – requirements
Standard fixed term
Alternative flexible term
Standard plus
Reward
Change provider
Change provider – the results
Final comments

Equipment

Review of the findings
Explore what we did
Ask procurement team to reduce costs
Change damage and loss policies
Explore outsourcing of maintenance
Final comments

Considerations

Risk
Communication
Timeframe
Resourcing
Need to invest – part 1
Need to invest – part 2
Need to invest – part 3
ROI
Market trends
Long term planning
Process improvement – part 1
Process improvement – part 2
Time for YOUR plan

Close out

Honest feedback & final thoughts
Review of key learnings
Thank you