Seven Ways to Cut Expenses in the Office
September 26, 2013
By Mae Kowalke
, TMCnet Contributor
Margins can be tight in this economy, making it important to squeeze savings wherever possible. Here are seven ways to cut costs in the office.
Streamline the hiring process. Many applicants apply for everything in this economy, meaning that the hiring process is loaded with candidates not particularly qualified. Streamlining the hiring process starts with clearly outlining what is needed from the candidate, and it is possible to weed out applicants applying en masse by asking applicants to include a particular term in the subject line of their application email such as “locomotion.” This will show who has read the job ad.
Have workers telecommute instead of working on-site. Cloud-based solutions allow employees to now work from anywhere. By building an out-of-office workforce, businesses can cut down on in-house overhead such as utilities, office space and break room perks. In some cases, employees also will take a pay cut for the perk of working from the comfortable environs of their home.
Work in the cloud. Speaking of the cloud, businesses can save an average of between $100-$300 per employee by migrating their operations to the cloud. A recent survey found that 62 percent of companies found that using the cloud allowed them to save and reinvest in other areas of the company.
Conduct an energy audit. Electricity prices are not going down. On average, it costs around $39 per year to power a computer that is on 24 hours each day. Add monitors and laser printers, and the costs get even higher for every use. By choosing energy efficient equipment, businesses can save as much as 50 percent on energy costs.
Organize office space better. Office space is not cheap, and by better using office space a business can save $500 to $1,000 or more. When thinking about office space, look at each room individually as well as at the total amount of available space. As the business expands, think about shared workstations or dividing offices to make better use of space and delay the need to move into a larger building.
Consider unusual work spaces. It is often possible to find a lower rate for an old warehouse or retail space in a less trafficked part of town. Businesses may be able to get a better deal on office space by being open to non-standard office environments. This doesn’t mean the office has to actually be unusual on the inside, but it could simply be a case of a unique exterior or unusual layout.
Buy in bulk for better deals. We all know from the likes of Costco and other warehouse stores that savings can be had by purchasing in bulk. Many retailers offer discount pricing for bulk purchases where the more you buy, the less each item actually costs. This is especially useful for non-perishables and office supplies. It should be possible to squeeze out roughly 20 percent savings if bulk purchasing is done intelligently.
Edited by Rachel Ramsey