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EMPLOYEES PARTICIPATION IN COST SAVING

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Presented by : Soham Samanta (P15FC040)

Harsh Agarwal (P15FC055)

Rav !e"a (P15FC0##)

$tender %&mar (P15FC0'')

So&mya"t %hamar& (P15FC15) ebashsh Shah (P15FC*1)

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INTRODUCTION

Cost saving:

The amount of money saved as a result of changes to plans or policiesthat

reduce the expense associated with a business activity

Identifying cost saving opportunities can help a business to increaseprofits

by reducing outflows.

EMPLOYEE PARTICIPATION:

Employee involvement is not the goal nor is it a tool, as practiced in many

organizations. Rather, it is a management and leadership philosophy about

how people are most enabled to contribute to continuous improvement and

the ongoing success of their work organization.

Employee participationis the process whereby employees are involved in

decision making processes, rather than simply acting on orders

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EMPLOYEE PARTICIPATION IN

COST SAVING Employee participation in cost saving is creating an environment

for employees to reduce companys expenses voluntarily for

future purposes of organization as well as employee.

IMPORTANCE OF COST SAIN!S

!reater organizational stability.

The organization develops a stronger future focus. Employee participation builds focus and teamwork.

Improved "uality # service.

+

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WAYS OF COST SAVINGS

Educate your empoyee!

Lea"#$% o&ce #$ t#me

Electricity and water Travelling expenses

Phone usage

Printing paper

Stationery Pro'ect (a!ed )or*

4

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,0-

0-

Importa$ce o& empoyee e$%a%eme$t

Strongly agree .oderately agree .oderately dsagree Strongly dsagree

5

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Strongly agree

.oderately agree

Strongly dsagree

.oderately dsagree

0 10 0 +0 40 50 *0 #0 ,0 '0

Importa$ce o& mot#"at#o$

/mortane o2

motvaton

*

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10-10-

0-

10-10-

Met+od!

3on&s

3on&s PromotonsComm&naton

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oal settng

3ene2ts awareness

#

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622etve omm&naton

.otvaton

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All the above

0 0 40 *0 ,0

Met+od to e$%a%e empoyee! #$ co!t !a"#$%

.ethod to engage

emloyees n ost

savng

,

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86AR9/9S

$ out of %& managers agreed that employee

engagement is very important to sustain in the

competitive market 'ccording to the survey we found motivation

is a key factor to engage your employee to

reduce the cost

(a)orly bonus and training is used bymanagers to motivate employees for cost

saving

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