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Driving Down Cost: How to Manage and Cut Costs- Intelligently: How to Manage and Cut Costs- Intelligently by Andrew Wileman

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4 People

Girls take this tip from meGet a working man when you marryAnd let all those sweet men be

—Bessie Smith

The cost of people, of full-time staff, is the most difficult cost to manage. Because it is so tricky it is usually left until last in any cost-cutting program and any discussion of cost management. Let’s reverse that trend and look at it now before we go on to easier tasks, like dealing with suppliers.

Why Is People Cost so Problematic?

First, people cost is very sticky. Once people are on the payroll it’s hard to get them off, even if they are poor performers. There’s a natural momentum the other way: to give them raises and promotions, to provide extra staff under them to help out.

Nobody likes being the bad guy who has to fire ...

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