By Mel Kleiman, president, Humetrics
Trying to cut costs and/or services to increase or maintain profitability is a common, but mistaken strategy.
Yes, there probably is fat that can be trimmed and we need to look at every line item expense, but if you compromise the customer and/or employee experience, you threaten the viability of your business.
Rather than cutting costs, look at the other side of the coin and ask: “How do we improve profits?”
You’ll get an entirely different set of answers and ideas.