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15/7/2019 - Experts estimate that 90 percent of Australian businesses are overspending

  Experts estimate that 90 percent of Australian businesses are overspending on day-to-day expenses, by as much as 75 percent in some cost categories!Looked at the operating costs of your business lately? You might be surprised at Babbitt Bearing Manufacturers the savings that can be gained with a systematic approach to cutting costs.The easiest way to lift profits is to cut the fat out of costs. Cost-cutting and profit increases can amount to much the same thing if handled correctly. Cost-cutting does not necessarily mean slashing and burning budgets on a 'let's-see-if-this-works' whim, nor does it mean the intense scrutiny of entertainment expenses in August, before reverting to three-hour lunches in December.But what if a company could save 20 percent a year on its stationery spend?

Or 26 percent a year on its courier costs? Or 76 percent annually on its printing bills? Wouldn't that represent real savings - and an increase on the bottom line? The truth is that a significant cause of poor business performance in Australian companies is the lack of attention given to the cost of running the business.The reasons for this lack of attention are many, but here I am going to focus on three of them:? the process of cost management and review can be difficult to manage? tough-minded resolve is usually required? cost-reduction initiatives are not always positively received by colleagues and staff.Any executive who chooses to undertake a program of cost-management, then, is probably going to find themselves out on a limb and needing to show true leadership skills. And he or she is going to have to do it in today's business world, when the buyer is often at a disadvantage.

The seller, or supplier, possesses vital market knowledge that the buyer, or company, does not have because of a lack of resources, time, expertise - or a combination of all three. Consequently most, if not all, organisations overspend significantly on their business operating costs.Experts estimate that 90 percent of Australian businesses are overspending on day-to-day expenses, by as much as 75 percent!How does a company know if it's one of the 90 percent? If a company can answer 'yes' to any of the following there is a good chance it can reduce its business operating costs and free up profits:YES/NO There is no centralised purchasing system. Each department seems to have its favourite suppliers and its own purchasing processes.

YES/NO We always seem to be purchasing in an ad hoc, as-needs manner, instead of benefiting from bulk purchases.YES/NO We seem to stick to the same supplier and trust that they're giving us value for money.Major areas of cost controlThe main areas where costs can be rationalised include telecommunications, energy, freight, couriers, mail, office supplies, waste management, reprographics and stationery. There are other areas such as cleaning, merchant card services, maintenance contracts and document storage, but of course the list is endless.Apart from reviewing overhead costs and establishing benchmarks, there are a number of other factors that need to be taken into consideration to achieve long-term success in maintaining cost savings.

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10/7/2019 - In order to maximise retention of young Muslims

  Suggested practice for HR personnelMuslims now form one of the largest religious groups in the UK. At a time when great misunderstandings and stereotypes circulate the media and society White Metal Bearing Suppliers regarding the religion, it is crucial for an effort to be made at all levels to go beyond archetypal images and to begin to understand Islam and Muslims.With a population of approximately 1.5 million Muslims and growing, UK based companies are employing more and more young Muslim men and women. With this increase comes a greater need for HR practitioners to be aware of the respective cultural sensitivities.As with individuals from any background, if they do not feel comfortable and understood in their office or company, it is likely that they will eventually seek employment elsewhere.

In order to maximise retention of young Muslims, it is ever more important therefore, that their sensitivities are kept in mind.The following information contains basic tips and guidelines for HR staff and others to bear in mind. Please note that these are very generic guidelines. Muslims differ from generation to generation, culture to culture, some are more devout than others and interpretations and practices of the faith are numerous. It may also be the case that the individual is Muslim by name only and chooses not to practice their religion.PrayerA Muslim, both male and female, is expected to pray five times a day. This prayer involves facing Makkah (in Saudi Arabia), usually on a prayer mat or clean surface and reciting prayers which follow a procedure of bowing and prostrating.

This typically takes between 5 ? 15 minutes depending on the individual. Prayer times are calculated according to the movement of the sun and take place at dawn, midday, late afternoon, dusk and at night.For Muslims in your company it is a good idea to allocate a neutral space for them to use for their prayers. This can be a dedicated prayer room or simply access to a seldom used office or medical room. Such a space will make your Muslim staff feel at comfort knowing they have somewhere private and clean to say their prayers.If staff are required to be committed to a desk space at certain times it may be a good idea to agree on allocated times in which they can read their prayers.

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