Small-to-medium enterprises (SMEs) should evaluate their employee benefit packages if they want to reduce costs during the current economic climate.
Research by MetLife revealed that over a quarter of small businesses are thinking about reducing their employee's annual holiday entitlement because they believe they are being too generous and this move will help to reduce overheads.
It was discovered that employers would like to decrease the amount of annual that they were currently offering by an average of four days and that workers were open to a reduction in their holiday in return for other types of benefits.
Over one-third of workers said that they would consider a reduction in the amount of their annual holiday leave but this would only be accepted if they received a salary increase instead.
If employers felt that they were unable to provide a pay rise in return for a reduction in leave, they might want to look into the offering other employee benefits such as flexible working or unpaid time off.
Another possible way that an organisation can cut business costs is to offer increased employer pension contributions instead of providing a pay rise or in place of holiday entitlements.
Organisations that are looking into shrinking their employee benefit package must remember that businesses are legally obliged to offer their workforce 28 days' holiday every year, which includes eight bank holidays.
If a business is serious about cutting costs at the same time as increasing productivity, then they should employ the services of a performance improvement consulting experts.
Experienced performance improvement consulting professionals can use their business expertise to examine how organisational processes can be enhanced in order to generate higher levels of effectiveness and efficiency.
Performance improvement consultants use the application of systems thinking theory to help a business view its organisation from the perspective of one of their customers as this highlights where the most value is extracted from processes.
Systems thinking will help business managers demonstrate to their employees how to improve customer service at the same time as working more efficiently and productively.
The British economic recovery will depend on the success of SMEs so it is increasingly important that they are working to full capacity in the current uncertain climate.
SMEs that are able to deliver world-class results in troubled times will be best placed to take advantage of the recovery when it begins to take full effect.
Research by MetLife revealed that over a quarter of small businesses are thinking about reducing their employee's annual holiday entitlement because they believe they are being too generous and this move will help to reduce overheads.
It was discovered that employers would like to decrease the amount of annual that they were currently offering by an average of four days and that workers were open to a reduction in their holiday in return for other types of benefits.
Over one-third of workers said that they would consider a reduction in the amount of their annual holiday leave but this would only be accepted if they received a salary increase instead.
If employers felt that they were unable to provide a pay rise in return for a reduction in leave, they might want to look into the offering other employee benefits such as flexible working or unpaid time off.
Another possible way that an organisation can cut business costs is to offer increased employer pension contributions instead of providing a pay rise or in place of holiday entitlements.
Organisations that are looking into shrinking their employee benefit package must remember that businesses are legally obliged to offer their workforce 28 days' holiday every year, which includes eight bank holidays.
If a business is serious about cutting costs at the same time as increasing productivity, then they should employ the services of a performance improvement consulting experts.
Experienced performance improvement consulting professionals can use their business expertise to examine how organisational processes can be enhanced in order to generate higher levels of effectiveness and efficiency.
Performance improvement consultants use the application of systems thinking theory to help a business view its organisation from the perspective of one of their customers as this highlights where the most value is extracted from processes.
Systems thinking will help business managers demonstrate to their employees how to improve customer service at the same time as working more efficiently and productively.
The British economic recovery will depend on the success of SMEs so it is increasingly important that they are working to full capacity in the current uncertain climate.
SMEs that are able to deliver world-class results in troubled times will be best placed to take advantage of the recovery when it begins to take full effect.
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