Sharing your savings

Yesterday we talked about building your top and bottom lines.
Today we’ll share one strategy we’re field testing now.
One cost-saving strategy submitted in our last management survey:
Set a cost-saving goal and share the savings with your staff.
At our planning summit, we made our staff this offer:
Cut costs 10% in the next quarter and share 50% of the savings.
We identified 11 benchmarks where costs could be cut or controlled.
If you want to know our 11 benchmarks, drop me an email note.
A 10% saving is $20,585 and 50% of that comes to $10,292.
Divided equally, each of us will get $735. That’s worth working for.
We adopted another strategy also to track our progress.
We asked our Office Manager Hilda Crain to watch expenses.
Hilda will give us monthly reports on our progress.
She also will question and flag anything that appears excessive.
She is our "Cost Control Expert" who watchdogs the project.
I’ll let you know later how we do and what we learned.
Next quarter we’ll try a similar goal to boost our revenues.
Tomorrow we’ll share a great revenue idea from J.J. Tompkins.
For a head start on improving your top and bottom lines click here.