Managing in this Slow Economy

A slow economy affects everyone, include managers who have to deal with employee shortages and low staffing budgets. With a still-high unemployment rate and economies around the world struggling to maintain any growth, it is no wonder that today’s average business is struggling to keep the balance between having enough staff and having too many.

As a business, what can you do to ensure you have the right number of people when you need them and not too many that you are busting your budget? Here are some tips.

  • Don’t just focus on cutting, but also use staffing that you have to find ways to new opportunities. This means looking at ways to improve productivity, improve technology or even improve distribution. If you focus on no-growth as your frame of mind, you are missing key opportunities.
  • Don’t over hire or under hire. That’s tricky to do, but if you focus instead on hiring the right staff and then adding to it through the aid of a staffing agency when you need help, you’ll be far better off. Put your core in place and then buffer this with staffing help from Advance Staffing Solutions when you need more people.
  • Manage your capital wisely. Another step to take is simply to put your money into what’s going to make you more. Before any investment decision, consider what will happen to the company if the investment fails. Can the company risk not getting involved in the investment, though?
  • Learn to let go. Let’s face the music here. There are going to be times when your good idea or master plan did not work. You can keep putting time and money into it or you can back out now and conserve resources. Mangers need to be able to notice areas that hold no promise and to get out of them.
  • Don’t cut off your arm. In some cases, companies are downsizing so much so that they are unable to grow and develop at all. If you think that cutting your staff down to the bare bones is going to help your company to do well, think again.

Of course, it is also important for managers and business owners to put the focus on the little guy, too. Though you may still be bringing in the big bucks, that doesn’t mean you can’t ensure your employees are well taken care of. After all, if your core, well-trained staff is out the door, you could be hurting even more than you are now.

We invite you to review some similar posts previously published here at Advance Staffing Solutions, for more information on handling the challenges of managing your staffing needs during uncertain times.

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