What cost-cutting measure have you been in charge of implementing?

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The interviewer wants you to discuss the largest, most impressive, cost-cutting measure you have been in charge of. Start by discussing who identified the initiative and how you were selected to lead the implementation. Then, provide a brief overview of the cost-cutting measure, and give an overview of the steps you took during the implementation. Be sure to mention the positive result that was generated following the implementation.

"While working at Company ABC, the Payroll Director asked us to look for opportunities to cut costs associated with running payroll. The first thing I did was stop using paper whenever possible. I introduced a new digital process and started to scan copies rather than fax or print them. My co-workers followed suit, and this action reduced paper-related expenses by 49% in just one month. The Payroll Director applauded our efforts, and other departments took notice, working to implement these actions, as well."

"I have taken on many cost-cutting measures throughout my career. As a payroll professional and a keen 'numbers person,' I am always looking at costs and thinking of creative ways to generate savings for my employer. For instance, I recently realized that it made sense to bundle our payroll and benefits providers into one solution, saving us $4.50 per employee each payroll cycle. In an organization made up of over 5,000 associates, this will save the company hundreds of thousands of dollars over time."

Last year, I noticed that the expense reports for mileage seemed to vary greatly between employees. Some charged mileage for coming to the office every day which isn't really supposed to happen but the expense reports were already approved by the supervisor by the time I received them. Other times, I noticed some employees charged more than others for the same trips. I tracked some of the trends and showed my boss the issue. Then I created a new travel policy and expense report form with embedded numbers with the allowable rates. I sent the new written policy to all employees and then implemented a training. During the training, I informed everyone that future expense reports would be rejected if they were not completed properly. This helped reduce expenses by xx percent in the first quarter after it was implemented.

Anonymous Answer

"Our company was using an expensive courier at the time, which cut into our profit margin. I proposed to the boss that we switch to a less costly courier for payroll delivery, which ultimately improved our profit margin. That year, I was offered a 30% share of the net profit increase due to this and other profit-boosting implementations."