Budget cuts are looming ahead after the aftermath of COVID-19. Many are already feeling the need to limit costs wherever possible. While this list of common workplace waste isn’t comprehensive, this blog is a good place to start to see where your office can save money.

High Absenteeism

This section is especially relevant in wake of COVID-19. Employees missing work when sick can impact daily operations. There are several pieces that impact health.

  1. Medical Benefits (or lack of): without appropriate medical benefits, employees may wait to see a doctor for easily treatable illnesses. The longer they wait, the harder and longer it takes to treat.
  2. Building Hazards: this may include poor heating/cooling, poor ventilation, or poor building upkeep (mold, asbestos, etc.).
  3. Decreased Morale: stress and burnout have been proven to be detrimental to physical and mental health. However, this can be avoided by making sure employees aren’t being overworked, feel valued, and have an appropriate level of stress.

High Paper Usage and Storage Costs

Offices in the US purchase 3.7 million tons (700 billion sheets) of paper every year. Ink and printer maintenance cost a pretty penny as well. There are easy ways to skip the printer including email, PDF files, Dropbox, and using digital payments. On average, one check costs $6.

Where does all of the printed pages get stored? Heavy file cabinets take up valuable office space. Searching for files is easier when saved electronically. Therefore, saving digital files instead of printing and filing saves time, space, and money.

Outdated Software and Contracts

Outdated software can increase time spent waiting for applications to load, inability to troubleshoot, and more effort in making files accessible. Confusing software that doesn’t benefit your workplace flow wastes valuable time.

Find suppliers that offer beneficial deals while improving company performance. At the same time, don’t prioritize price over quality. Low prices usually indicate low-quality products which will in turn reflect the quality of your company’s product. Defective materials may also result in an overall higher amount spent.

Inefficient Outsourcing

Outsourcing tasks requires knowledge of work culture and the workflow process. If too many tasks are outsourced, it could be wasting company time and money. However, some outsourcing may be required. It is a fine balance of knowing when to outsource and when not to. Take a careful look at what jobs could be reallocated “in house” and which tasks should remain outsourced.

In conclusion, workplace waste will take time and possibly some funds to fix. However, the returns will be worth it. Your office will save far more time and money in the long run. If your office wants to cut down on check payments, CourtFunds is ready to chat with you to see if we’re a match.

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