Wednesday, April 15, 2009

How To Cultivate Cost Saving Attitude Among Employees

As I have mentioned in my previous blog, the most important part when you are thinking to save cost on your company expenses is to educate your staff on the importance of cost saving and its benefits to the company, the individual and to the global as a whole. The next question would be "How to educate my staff the importance of cost saving?" One solution would be to create a cost saving awareness program among employees on how to help your company to save cost. Since the employee is the living part of your company, there's no other people who can understand your company better than your employees. Once the employees understand the company, they will know where does the money flows too and how to prevent more money flowing out from their company.

To start, pick a date. Create a cost saving suggestions program among your employees. Make it a compulsory for all employees to participate. Better if everyone of your staff must come up with at least 5 practical cost saving ideas. Make the program fun and more meaningful by rewarding employees with the best and most practical cost saving suggestions. Or reward employee with the most cost saving ideas. The rewards can be in the form of monetary value or other incentives. Encourage employees to suggest as many ideas as possible. Remember to give employee enough time for them to come out with effective and practical suggestions.

From this program, company will have hundreds or thousands of fresh, useful and practical cost saving ideas from their own employees. For the employees, by participating, they are practicing accidental learning on the importance of cost saving ideas for the company. As an employee, it's great to know that their idea does matter and can help the company to move forward. And not forgetting, they will have opportunity to grab the cash incentive too.

Make sure that the company will take action and practise the useful cost saving ideas. After all, great ideas are meaningless if not been practised.

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