Equipment investment can save you a substantial amount of money. Uncertainty in costs associated with health care, labor laws, unemployment and benefits can add even more to those costs during the time a person spends with the company. Statistics show that right now, labor costs are rising at a rate of close to 7%. So what is the answer? Investing in equipment.
Equipment Investments Maximize Your Company Dollars
While labor costs can be high and bring with them uncertainty, investments in equipment are a safer bet. Tax incentives on capital investment are increasing, and equipment costs are decreasing. Prices for equipment and software have dipped 2.4% in recent years. While the initial investment of equipment might be higher, a larger return on investment is forecasted in years to come.
The Hidden Costs of Hiring
While the market is still churning out the same amount of goods it did in the past, it is doing it with a much reduced work force. This means that the competition for an open job is greater when a position becomes available. While it may seem like this is a good thing, it can carry with it hidden costs.
How much does it cost for your HR department to review a resume. Now, factor in the increased amount of poorly prepared or even completely unqualified applicants who are just throwing their resume out there hoping it will stick. These costs can quickly add up.
Once a new employee has been hired, there are the costs associated with training that employee. When you factor in the down time of a senior employee allocating time to train the new employee, the expense of a new hire can increase quickly.
Equipment Investment Improves Efficiency
Now let’s look at the other side of that scenario. Instead of causing down time on a trusted senior employee while training goes on, you could improve their efficiency by investing in equipment. New equipment can allow existing employees to increase productivity or even take on new responsibilities. You can get the same result as hiring, simply by investing wisely in equipment.
Ultrasonic Cleaners Are a Wise Investment
Ultrasonic cleaners are an essential capital investment for manufacturing. Rough parts off the machine floor need to be cleaned and inspected. What if you could have both the cleaning and inspection done by the same employees?
Ultrasonic cleaners reduce the amount of labor required in the finishing of manufactured parts by automating the process. All that is required is that the parts be placed into the cleaning bath, and then be inspected at the end of the cleaning cycle.
This can help to reduce the labor needed to finish parts which means getting them to customers faster. This also allows labor to take on other tasks instead of spending many labor-intensive hours cleaning up machined parts to make them ready for shipment.
Omegasonics has a wide variety of ultrasonic cleaners and products to help your business. Look at the catalog today to see where you might invest!
