article thumbnail

10 Remote Staffing Blunders That Will Cost You Dearly

Startup Professionals Musings

These days, it is almost impossible to find a small business where everything is done by full-time employees, in the office or at home. These approaches allow your startup to grow more rapidly, save costs, but costly mistakes can lead to business failure. Let’s cut costs by outsourcing all from this point forward.”

Cost 346
article thumbnail

Effective Management Techniques to Reduce Employee Turnover

The Startup Magazine

Perhaps it won’t be wrong to say these staggering numbers are a wake-up call for organizations to take employee retention seriously. Otherwise, they will (sooner or later) experience the resource drain, high overhead costs & low employee productivity. What Is Employee Turnover? So, let’s get started.

Employee 162
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

5 Startup Cost Realities Most Founders Underestimate

Startup Professionals Musings

Image via Flickr by Phil Gyford Starting a new venture still costs real money, even though the entry price has come down dramatically in last few decades. For example, I come from a software background, and back in the early PC days, it could easily cost half a million dollars for a team of professionals to produce a commercial product.

Cost 264
article thumbnail

7 Staffing Strategies That May Cost You Your Business

Startup Professionals Musings

Trying to save costs by seeking resumes on the Internet will result in poor quality candidates, more time required for screening and interviews, and high turnover. Less qualified prospects don’t have alternatives, so they tolerate the frustration, but may return the favor as an employee. Utilizing unprofessional sources for candidates.

Cost 260
article thumbnail

5 Ways to Cut Costs with Business Analytics

The Startup Magazine

The growing data analytics industry is poised to help businesses optimize analytics to reduce costs without jeopardizing growth. Businesses need to increase their business analytics capabilities now more than ever, to protect against fraud, reduce costs, boost productivity, and more. 3) Lower Marketing Costs. 4) Reduce Turnover.

Analytics 158
article thumbnail

7 Costs To Consider Before Taking Your Startup Public

Startup Professionals Musings

There are real ongoing costs of maintaining a public company. million in annual recurring costs as a result of being public. If you want to give stock options, or have already been giving them, the employees will love the liquidity of their options, and the thought of selling shares for a profit.

Cost 319
article thumbnail

How Businesses Can Better Retain Their Employees

The Startup Magazine

Studies have found that employee turnover results in businesses losing over $1 trillion annually. This staggering number can affect your company’s bottom line, but by providing the right incentives, you can decrease the cost of poor employee retention. Human nature is to improve and feel valued.

Employee 152