Course Methodology
The course is mainly based on sharing real examples of what an
organization can do to save costs. In addition, this interactive course will
include presentations by the consultant as well as individual and group
exercises and workshops.
Course Objectives
By the end of the course, participants will be able to:
- Identify how costs affect both cash and accrual
basis income
- Analyze HR costs and find ways to decrease them
before firing employees
- Research and advise on cost cutting
in different departments
- Suggest and implement industry related cost saving
strategies and techniques
- Find new ways of doing business that can save
hidden costs
Target Audience
Financial managers or directors, accountants, financial assistants,
budget accountants, analysts, budget and planning managers and coordinators,
operations managers, HR managers, facilities managers and professionals
interested in cost savings.
Target Competencies
- Analyzing costs
- Assessing value adding costs
- Decreasing costs
- Cutting costs
- Advising to buy or lease
- Evaluating performance
Importance of saving costs and improving productivity
- Advantages
- Disadvantages
- Costs effect on cash and accrual basis income
Analyzing HR costs
- Work force size
- Employee benefits
- Insurance
- Retirement and pension
- Exchange benefits for money
- Trainings
- Trainings for new hires
- Trainings for all employees
- Employee relations
- Acquiring employees
- Retaining employees
- Eliminating bad employees
- Productivity and employees
- Travel and entertainment
- Alternatives to decreasing employees
Department costs
- Production
- Sales
- Advertising and marketing
- Shipping
- Accounting
- Purchasing
- IT
- Customer service
Industry related costs
- Home office
- Manufacturing
- Food service
- Retail
- Healthcare
- Education
Hidden costs
- Rent and building
- Maintenance
- Lease or buy
- Utilities
- Office supplies and equipment
- Litigation
- Outsourcing
- Theft
