Wise Startup Blog

In our current economic climate, companies need to be evaluating every single expense, and how they can reduce or eliminate them. Could you be contributing to one of your company’s biggest costs?

Sure, employees are any company’s greatest expense, and also their greatest asset. I’m not suggesting that you are wasting your time, thus costing your company money, but rather that your company is not getting the most out of you, by not maximizing your efficiency.

So how much money is your company wasting?

Salary X Unused Time = FAIL!

Let’s say you make $50,000 a year. This would be a nice salary for anyone not in the Bay Area, and you work only a 40 hour work week.

That’s $960 per week or $24 per hour.

For a typical work-week, if your company was able to get 5 more hours of productivity out of you, they would make:

5 x $24 per hour = $115 per week

$5,980 per year

You Gotta Spend Money to Save Money

So if we can get 5 more hours of productivity out of our employees, we can save our company $6,000 per year. If you have a company of 20 people, that’s $120,000 per year, which is quite a nice cost-savings.

During a downturn in the economy, it’s small steps like these that help the good companies survive and the weak fail, and when the economy starts turning around, these strong companies can now flourish.

So Where Can We Find These 5 Hours?

Dual-monitors are proven by Microsoft to be one of the best ways to improve your productivity.

If you assume you’ll spend $1,000 on dual-monitor setups for your employees, you can easily pay for this capital expense in about 2 1/2 months, plus it’ll make your employees a lot happier.

Let us know any tips you have for improving employee productivity.