By Howie Fenton, for Rochester Software Associates – Outlining a plan for reducing expenses is unpleasant but your administration may request it as we emerge from this pandemic. It may also be needed during other financially challenging times.
We recently received a call from an in-plant that was asked to submit a plan showing how they would reduce expenses if the parent company experienced losses in revenue.
Staffing costs are often one of the largest in-plant expenses. It is impossible to estimate how reductions in parent company revenue will impact the in-plant, but we will outline a plan for managing staffing levels.
The spreadsheet we offer below will show you how to estimate staffing needs, visualize reductions, and suggests when to hire as revenue increases.
SOURCE Rochester Software Associates