How to cut costs painlessly

Cost cutting is often a knee jerk response to a drop in orders or change in the economic climate such as we are currently experiencing. Many businesses make the mistake of reducing the head count – a decision that may have a short term positive impact on overheads but which can have huge repercussions in terms of loss of skills, experience and knowledge and a drop in morale among remaining employees who fear for their own jobs or whose workload has suddenly doubled and your company’s ability to respond to changing market demands.

Much better to make many small cuts in non essential areas.