On July 15 2021, Dezan Shira & Associates presented a seminar on Managing Costs by Optimizing Your Workforce and Supply Contracts in cooperation with the European Chamber of Commerce Nanjing Chapter.
In a world as volatile, uncertain, and complex as ours, risk translates into costs. For businesses to succeed and improve their resilience, key components of cost management must be adhered to in order to focus resources on core competencies. With rising labor and material costs, sharing risks of further cost increases with stakeholders is most critical.
In this seminar, Vivian Mao, Partner, and Simon Laube, International Business Advisory Associate, discussed key methods for companies to stay afloat and effectively manage costs in this challenging era. Simon provided an overview of recent economic developments attributing to the rise of costs in several key industries while Vivian presented solutions from a legal and HR perspective for companies, highlighting how optimizing their workforce and supply contracts can help them to improve their business resilience.
The seminar was well received, with particular interest on salary structures and how to make adjustments to motivate employees and create a sustainable working environment, which our team explained by sharing several case studies based on our experience with clients.
Should you have any questions about how to increase your cost efficiency to fit your company’s growing demand, our team of experts can help you. Contact us today to schedule a call.
For further resources on Cost Management, you can visit our website, China Briefing, where you can find articles such as:Restructuring Your China Company to Survive, Stabilize, and Succeed Optimizing Your China Accounting and HR Processing with Cloud Technology – New Issue of China Briefing Magazine Leveraging Technology to Improve HR and Payroll Management
You can also visit our publication store, Asia Briefing, which houses in-depth business guides and magazines for multiple regions in Asia.