is it a must to reduce the total number of staff members on payroll to reduce cost?

[Shigobad2020]

Sometimes that is just the best option. If you are not making enough profits you have to cut off some workers so that your business won't fold up. It is sad but it's just the best decision to take.

Sometimes it's hard to take the calculated risk in your job because you live your workers , but you just have to let some of the workers go in order tonhave stability in your business.

 

[Syldan]

Well, it's not most but it's very necessary for an entrepreneur to reduce the number of workers on a payroll in other to lower expenses. These is what most of the entrepreneur have been doing when there is less labour required in a company.

 

[Setho]

Whenever you have a recession especially an economic recession, it is best that you should not be in a hurry to lay of your employees and in fact a lot of economic experts will tell you that is the last thing for you to consider. You should first of all think of how you can be able to reduce projects that are not going to be needed by the company at the moment.

 

[Adasun]

Yes,but that depends on how far you want to reduce costs.one of the major funds Syphonals of funds are the workers, although they are most important but can drain alot of money.so the best strategy is to reduce those you pay.

 

[Shigobad2020]

Yes,but that depends on how far you want to reduce costs.one of the major funds Syphonals of funds are the workers, although they are most important but can drain alot of money.so the best strategy is to reduce those you pay.

Sacking workers in order to reduce cost most of the time is the best thing to do because most organisation might be going through a lot at that particular moment but they dont have any choice than to let some customers leave.

 

[Sincerem]

This depends on the inventory of such business or company. The inventory serves as the company working budget ,list of assets and may other things of value to the company. If losing some of their staff would help to preserve the company then any company would take the option

 

[Ononivami]

It is very important for an entrepreneur to look at the overhead cost. Your expenses should not be more than your income. You need to cut down number of staffs to make more profit.

 

[Shigobad2020]

It is very important for an entrepreneur to look at the overhead cost. Your expenses should not be more than your income. You need to cut down number of staffs to make more profit.

The money you are spending as a company should not be more than the money coming into your organisation , and if that's the reason why the number of the staff shoukd be cut , then theres no way out .

 

[Ononivami]

The money you are spending as a company should not be more than the money coming into your organisation , and if that's the reason why the number of the staff shoukd be cut , then theres no way out .

Cutting down the expenses would definitely translates to the business continual functioning. If you noticed that lots of expenses incurred could Bring the business down, that's definitely the available option.

 

[Sotherefore]

If this really happen in a business organisation it is a pure indication of lack of business progress because definitely you should be employing more people into your business organisation than to reduced it

 

[Shigobad2020]

I realises that cutting down your unnecessary expenses if you have one or two expenses that's not worth it, cutting those unnecessary spending down can also save your business .

 

[Setho]

There are so many things that you can be able to do first of all in order to conserve cost. You should look at all the things that are throwing money away from the business aside your own staff and it should be only as a last resort.

 

[Syldan]

Actually the amount spent on employees or personnel management is also calculated as an expenditure when when such is done unproductive, it's advisable to reduce the number of employees on payroll to reduce cost of expenditure.

 

[Shigobad2020]

In order to reduce cost of salary in an organisation , I beleive that increasing the cost of production should suffice and you can keep advertising your business online to increase your customers.

 

[Setho]

First of all you should try to cut down on unnecessary spending in the business is like projects that are not going to be important to the company on the immediate basis. Laying down staff should often be at the last resort.

 

[Syldan]

It's very important to have the exact number of people or employees that are willing and ready to meet up with the expected task. not employed an over number of staff of which will lead to so much expenditure on personel.

 

[Shigobad2020]

To reduce your cost of spending , before removing your staff from payroll , you must first check the total workforce and what you are producing to know if it will affect your business

 

[Castelione]

Reducing staff on your payroll will not assure you to reduce your business cost. There are possibilities that it may cause you more because you should also consider your staff workloads. It might get them sick or unmotivated because of workloads beyond their salary.

 

[glitch]

I have known some companies which expanded and over-hired people to the point where they had to cut back staff by 35% a year later. You need to ensure you, as a business owner, make enough of a profit.

 

[Setho]

I believe that it is completely in human for you to think of laying down employees at every slight miss fortune. You should first of all try to change the way around your business like your pricing and marketing before thinking of more complicated issues like that.