Recent months have seen many small businesses are cutting hours due to revenue loss.
In the face of stiff competition, most businesses have tried to reduce costs in whatever way possible. Cutting hours can not only reduce expenses but can also increase profits and market share. The latest trend is the use of outsourcing to cut costs, however, this trend has apparently had a negative impact on several U.S. cities.
Some businesses were forced to re-evaluate their future by losing productive workers to the outsourcing process. Labor is the glue that holds a business together. Without it, profit becomes impossible. To have a profitable operation, all workers must be paid appropriately for their work.
However, many small businesses are re-evaluating their operations after a loss to outsourcing. Since so much of the workforce is now dedicated to working off-site, cutting hours due to revenue loss cannot continue as it is detrimental to the future of the business. Outsourcing can help small businesses remain competitive, but workers must be paid appropriately for their work.