IT infrastructure is an essential part of any business, however, it can also be a costly one. Investing in IT can ultimately save you money, but only if you’re investing wisely.
There are usually plenty of ways that businesses overspend when they don’t really need to.
Every time a member of staff leaves your organization, it is likely to cost you somewhere between one and a half to two times their salary to replace them.
Recruiting and training aren’t cheap, not to mention the time involved from your existing staff team and the lost productivity that always accompanies a change in staffing.
Therefore, one of the best ways that you can lower costs in your IT department (or any department, really) is to make an effort to reduce staff turnover.
The good news is that retaining staff doesn’t have to involve giving them a raise. If you want to keep your employees happy, things like prioritizing work-life balance, actively encouraging communication, being open and honest and creating a transparent career pathway can have a huge impact.
It’s also a good idea to think about allowing your staff team more vacation time. As a bonus, this will help staff to feel more rested and improve their productivity into the bargain.
Creating a relationship with local colleges is a great way to bring talented graduates with fresh new ideas into your organization.
An internship program allows you to bring in staff at a lower level, and train them up. This often saves money because salaries are lower of course, but also because it means you have employees who haven’t become jaded or stuck in their ways through years of work.
Additionally, having a good internship program will make your business look good, which can pay off in unexpected ways.
Working with a managed services provider for your IT support means that you can guarantee whatever functions are agreed upon under the contract, at a fixed rate.
Because MSPs have access to so many professionals across so many technology disciplines, this fixed rate is often a good deal lower than the price you would pay for hiring your own staff to do the same job. Additionally, MSP’s will usually provide 24 hour support, which can get costly if you are paying your own staff an increased rate for working unsociable hours.
If you can find an experienced provider with a good reputation, MSPs can be a fantastic way to cut your IT budget and actually improve service.
If you’re carrying out a cost-saving exercise it can be tempting to focus on where you can save money right now, but the problem is that this can cost you in the longer term.
Be sure to invest in technology solutions that will save you money over time. For example, a lot of businesses save significant capital by moving their infrastructure to a cloud-based solution. There is an initial cost, but you’ll make savings over the long term as they eliminate server maintenance costs and improve performance.