2 Reasons Why Your Business Is Losing Money, and how to overcome those challenges.
Employee compensation is one of the largest expenses to businesses. The Wall Street Journal reported a survey of employment data by some of the nation’s largest corporations — General Electric, Caterpillar, Microsoft, Wal-Mart, Chevron, Cisco, Intel, Stanley Works, Merck, United Technologies, and Oracle — and found that they cut their workforces by 2.9 million people over the last decade while hiring 2.4 million people overseas. Can you think of some tasks that you could outsource?
Loss of Production.
Loss of production comes in many forms. Loss of production mainly comes from sales people doing the job of an administrator/ assistant and employees doing tasks that they are NOT proficient at. Each employee should work within his or her “Unique Ability” as much as possible. A superstar sales person should never be forced to do paperwork or administrative tasks. Someone who has a unique ability of “managing details” should be doing those same administrative tasks that are deadly to the salesperson. Do your employees personality match their position? Have you had your employees take a personality test?
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