Hodge-Podge of Cost Saving Ideas
I was searching for some ideas to reduce costs the last couple of days, and scratched together the following hodge-podge list. Some are good, some are downright depressing. My most favorite out of all of them is the third one : )
- Ask employees to turn off office equipment at the end of theday
- Base overtime on a week or two-week period, not per day
- Competitively bid procurements
- Default all printers and copiers to duplex mode
- Default color printers to B/W
- Eliminate fee-based recycling programs
- Eliminate or lower 401(k) contributions
- Eliminate or reduce business meals
- Eliminate vending machine subsidies (some employers actuallysubsidize vending machines to lower the cost to the employees)
- Ensure that your office supply company is crediting you foryour used ink and toner cartridges
- Extend depreciable life of equipment (e.g., refresh PCsevery 5-years instead of every 3)
- Float—pay vendors on time, but not before (unless there’s adiscount)
- Have vendors sponsor team outings
- Hire an expense recovery company to review routine fees suchas IT maintenance costs, telecom contracts, shipping and mailing fees,insurance costs, bank fees, and credit card processor fees
- Implement a light / energy management system
- Increase deductibles and lower healthcare benefits
- Install CFLs
- Instead of donating, sell surplus goods on eBay
- Investigate joining a group purchasing organization orpurchasing consortium to leverage spend
- Lease roof space for telecom equipment (such as cell serviceproviders)
- Move to multifunction printers to eliminate the need forseparate fax and scanners
- Pre-negotiate legal fees and rates
- Reduce offsite storage by eliminating unneeded documents(via a record retention policy)
- Reduce or eliminate tuition assistance
- Reduction in force, furloughs, reduce holidays, freeze wages
- Request the power company to do an energy audit
- Require employees to first seek out local training
- Use p-cards that provide rebates
- Web-based meetings vs. face-to-face
Nice list SRG but how about kicking out all on-site consultants from Dec 10 to Jan 10. Let's face it they sit there and do nothing, why should they bill your company when no work is done due to holidays, most employees are on vacation, etc. Would save a ton of money.
Take a couple of holidays away from employees during the year but give them the week between xmas and new years off. This way you close down the building and save on some utilities.
adjust your printing margins so you print less....print double sided....eliminate catering at internal functions (but keep the Sunny Delight, I know that's your fav)....no overnight shipping...get rid of company provided cell phones, your probably violating IRS regulations anyway...#2 on your list is probably illegal.
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