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In the first two posts of this series, we focused on the employees who directly generate revenue for your business. Now, we’re shifting the focus to another crucial group: those who save money by improving efficiency. These employees may not always be front-and-center, but they play a vital role in the profitability of any business by ensuring operations run smoothly, costs are minimized, and resources are optimized.
In service-based industries, where time and materials are key cost drivers, the impact of an efficient team can make the difference between success and failure. Whether it’s reducing waste, improving productivity, or streamlining processes, hiring the right people to manage the back-end of your business is just as critical as hiring revenue generators.
Cost savers are the employees whose efforts improve the bottom line by reducing expenses or increasing efficiency. Their work may not immediately result in cash flowing into the business, but the savings they create have an equally powerful impact on profitability. These employees can be found in various roles across your company, from operations managers and administrators to technicians who know how to make the most of your resources.
Here are a few key roles that typically contribute to cost savings:
The key to hiring cost savers is looking for individuals who prioritize efficiency and are always on the lookout for ways to streamline operations. Here are some traits and skills to consider when hiring for these roles:
Measuring the impact of your cost-saving employees is just as important as measuring the performance of revenue generators. Here are some key metrics to track when evaluating how well these employees are improving efficiency and reducing costs:
Hiring employees who will help improve efficiency and reduce costs is crucial, but it’s important to avoid certain pitfalls:
Conclusion
Hiring for efficiency is about building a team that can work smarter, not harder. Employees who reduce costs and streamline operations are essential to the long-term profitability of any business. By focusing on traits like attention to detail, process-oriented thinking, and resourcefulness, and by tracking key metrics like job completion time, cost per project, and waste reduction, you can ensure your team is helping your business stay competitive and profitable.
Ready for more?
The final parts of this series dive even deeper into how you can assess the return on investment (ROI) for every hire and build a team that consistently adds value. These final posts are available exclusively in our Skool community, which is free to join! You’ll also find additional resources, tools, and discussions to help you build a bottom-line focused team.
Join us on Skool now: https://www.skool.com/jonesbusinessgrowthchannel
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