Whether you’re big or small, putting together a PR strategy pays off in multiple ways. A press release that a reporter turns into an article could send new customers to your door. Having a good reputation in your community strengthens your business’ sales and longevity. And good relationships with the media result in free publicity and building your reputation as experts in your field.
When making staffing decisions, it’s important to consider all the variables. You may be hiring support growth, or bring in new clients. Other times, the role in a cost center, and you’ll need to evaluate if existing revenues can support added costs.
For many companies, personnel and personnel-related costs represent the biggest chunk of their expenses. During this pandemic, companies of all sizes have had to take a closer look at their personnel costs to see where cuts can be made. This has resulted in millions of people losing their jobs. But what if there were alternatives? Maybe your company doesn’t need to lay off as many people as you might have thought, in order to survive.
Companies large and small are struggling in this age of COVID. In Chicago alone, an estimated 4,000 small businesses have shuttered. The Washington Post reports that over 100,000 small businesses nationwide have “closed forever.” And it’s not over yet. Is your business struggling to stay afloat? Before your business becomes part of these alarming statistics, take action with some of the following cost-cutting ideas.