Bizcovering > Management

How To Save Your Business

Immediate measures you can take to prevent your business from failing.

Many businesses are about to fail. You have to be creative to survive. Trimming the fat, ending bonuses and huge severance payments is knee jerk. But there is a lot more you can do. The first thing is to speak to your employees. Explain that you are hovering on disaster. You can only do this when you have performed the "knee jerk" actions in the above paragraphs.

Explain to them that for the time being you are going to have to move to part time. To keep each worker you will have to put them on a four hour shift. You might want to go to three shifts, but each worker works four hours then a four hour off, before another four hour on. In this way you get twelve hours of work without paying overtime, without paying for lunch breaks. When money is tight you have to get as much out of each dollar you pay as you can. Paying people to eat lunch or having to pay them time and one half to finish the work is why you are in trouble. The writ in stone 5 day/40 hour work week should have gone out with manual typewriters. It is not merely the fact that off shore companies can do the work cheaper, it is that the relationship between the worker and the work is more productive. By moving to task work and limiting the time the work is to be done produces more work.

Further, without the sacred lunch break there is no reason for the usual "unwork" ritual. At eleven forty five, as Worker is soon going to lunch s/he doesn't begin that new task. At eleven fifty five the worker ceases to perform. At One fifteen the worker is just getting back into stride. This means at least ninety minutes of non production per worker per day. Without a lunch break, the worker leaves in four hours, no breaks. Many times you will get that extra five minutes to complete the task because there's "nothing" for him/her to do' when s/he leaves. Further, make it clear that you won't be able to keep everyone and are trying your best to make sure each one gets "something". It doesn't have to be said, that the worker who at Three hours and fifty minutes begins to pack up can be gotten rid of, while the one that finishes the task at Four hours and five minutes can be retained. Some of the workers will opt for two shifts, i.e. 6 to 10 am and then 2 to 6 in the evening. They are giving eight hours work for eight hours pay.

Not six and one half hours for eight hours work. Although they make the same money, you get more work and can, in case you need overtime or extra staff for a period, get double shifts or create a special over lapping shift. But never fall back into the eight hours straight, because that will turn into six and one half. You can always pop in a special shift from 9 to 1 and another from 1 to 5, or 3 to 7, whatever suits you. What you want is that all sections are full of workers. As you can see, the 9 to 1 worker can also fill the 2 to 6 slot. As medical benefits are always problematic, you will have to work out with your carrier a special kind of coverage.

Some of your employees will leave, may retire early, quit, so the "downsizing" will be natural. Further, with so many people looking for work, you can hire those far better qualified for far less. Right now, although the future seems murky, these steps will help you navigate through the fog.?

1
Liked It
I Like It!
Related Articles
Better Way to Entrepreneurship  |  How to Incorporate Skype Into Your Business
More Articles by A. Fool
Sometimes It's the Owner  |  This is a Recording
Latest Articles in Management
Team Based Development Approaches  |  How Organisations Can Tackle Office Gossip
Comments (1)
#1 by Dan Davis, Mar 19, 2008
Very straightforward and useful tips
Post Your Comment:
Name:  
Copy the code into this box:  
Post comment with your Triond credentials?
Inside Bizcovering

Accounting

 /

Business

 /

Business and Society

 /

Business Law

 /

E-Commerce

 /

Education and Training

 /

Employment

 /

History

 /

International Business and Trade

 /

Investing

 /

Major Companies

 /

Management

 /

Marketing and Advertising

 /

Opportunities

 /

Real Estate

 /

Small Business


Popular Tags
Popular Writers


An IVA is an alternative to bankruptcy.
Powered by
Bizcovering
About Us
Terms of Use
Privacy Policy
Services
Submit an Article
Advertise with Us
Contact

© 2007 Copyright Stanza Ltd. All Rights Reserved.