One area that has the potential to affect the value of your business is the staffing of your business. If you are thinking about selling, you may want to consider two different options.
1. Outsourcing
Many services, especially in today's environmen of the self-employed, can be outsourced. Replacing workers is not pleasant and should only be done if substantial savings can be realized, but outsourcing is worth investigating.
When evaluating the potential savings, you will want to compare the total costs related to the employee (salary, benefits, bonuses, etc.) to the total costs related to outsourcing. You will also want to consider how the change could affect customer service and the morale and productivity of the other employees.
2. Removing Negativity
Now may be the time to get rid of any disgruntled employees. Negative employees hurt a business in several ways. Their attitudes can create a sour environment for their co-workers; their criticisms and complaints can rub off on their coworkers; and their demeanor can leave a negative impression on the customers of the business.
Happy and contented employees make for a profitable business - and it is evident to anyone looking at the business.
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