Tighten Your Belt
Especially with the current state of the U.S. economy, now is the time to tighten your belt. Without writing a novel, here are a few things a small business can consider in this expense category.
- For everyone who offers health insurance, the cost has gone up yet again, 33% since 2004. According to Towers Perrin’s annual Health Care Cost Survey, the average corporate health benefit expenditure in 2009 will rise 6% over 2008 figures.
If you can do something now, do it. If not, start planning for next year. - Look at where you are spending money on staff perks. It is important to motivate and reward staff but maybe you are over the top.
- Positive words and a big smile go a long way. Inexpensive incentives like movie tickets and small value gift cards are appreciated.
- Time off with pay, if even for an extra hour works too!
(This is just one post in the Tighten Your Belt series for this month. Got any additional ideas? Be sure to share them by adding a comment!)
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