Archives for November 12, 2018

Motivating Employees

IMG_0983Motivating employees is one of the most important, yet often overlooked, function of running a company.

Studies and research have shown that money is not the top motivating factor for employees.
What motivates employees the most? A sense of feeling needed, appreciated, and belonging to the corporate team. Most people are defined by their job and they also spend more time with their fellow employees than they do at home with their families.

So armed with this knowledge, the business owner and/or the management team must find methods to get the employees motivated and dedicated to the mission of the company. If you are successful in making this happen, the company will benefit as a result. I believe in open dialogue with employees, even to the point of disagreement among two or more parties. If managed correctly, the ability to express frustration either with each other or with the company, provides a forum to openly address issues.

I also like to hold creativity meetings where employees can use their creative abilities to assist the company in becoming an even better performing organization. This helps employees build an emotional attachment to the company, thus creating a non monetary investment in the company. By providing an open environment which enables employees to vent and be creative, you are building a team which will take your company to new heights.

By using the above suggestions, you are showing your employees that you care about them and that you value them as people and partners in your business. The atmosphere and work environment will change, and now that you have motivated and engaged employees, your company will have formed a strong internal shell. If times become tough, it won’t only be you who is in the battle, you will have an army of support.

Now, what about that raise?

If you would like more advice, please contact us at net profit.biz or call us at 3306202761. We don’t just consult, we solve problems.

Cost Management and Reduction

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Cost management or cost reduction are commonly seen as cutting budgets, doing less or downsizing. We see it differently. It’s about finding and removing waste, getting to know your business, and actually spending more time on the areas of your business that matter.

There seems to be a never-ending cycle of corporate mandates to achieve greater profitability, while using fewer resources. As management teams succumb to this added pressure, managers often resort to drastic measures in achieving this goal. Their answer tends to be, eliminating or trimming budgets, cutting critical programs or downsizing.

Most cost reduction programs or initiatives actually have a negative effect and tend to erode top-line performance, or place strategic objectives at risk. While others are simply not obtainable or sustainable. We educate our clients that it’s not just about reducing costs, it’s about cost management. Cost management is simply a strategic attempt to review and improve business operations, products, and processes. Cost management is not about doing less, it’s about being able to do more in key areas, increase capabilities, and in making better informed decisions that will drive your competitive¬†advantage and enhance top-line growth.

We recommend a different approach to cost management. To create sustainable value, we believe that companies must look beyond short-term budget reductions. Short-term reductions tend to solve the current problem, but long-term, they reduce shareholder value and reduce the company’s ability to create sustainable business growth.

We help our clients to view cost management from an operational, transactional, and strategic perspective. We work with our clients to identify new ways to make business changes, achieve savings, and create an atmosphere of cost consciousness.

To learn more about cost management and cost reduction, please contact us at 330-620-2761 or visit our website at, net profit.biz