Tips for businesses on managing the energy crisis

06 December 2022

Reducing energy consumption

Businesses are facing rising energy costs and are looking for ways to reduce their energy consumption.

Some steps that can be taken to bring energy bills down are :-

  • Turn off the power to areas of the building not commonly used
  • Turn off the power to automatic doors and escalators
  • Upgrade equipment and appliances to more energy efficient models
  • Switch to energy saving lightbulbs or LED lights
  • Get a programmable thermostat
  • Consider installing solar panels. These have a large upfront cost, but they are a good long-term investment and are a green energy source
  • Carry out thorough maintenance on all equipment. You might be able to spot issues like leaks or underinflated tyres
  • Invest in insulation. Some types of insulation can be fitted without a specialist, such as batt and roll insulation
  • Fit draught excluders
  • Check if your business is entitled to any government support or tax incentives
  • Work with other businesses and pool resources. For example, can you share vehicles or other machinery?
  • Use hibernation features on devices
  • Go paperless. If you remove printers from your premises this will cut down on energy and paper costs
  • Allow employees to work from home on some days (flexible working), where possible

Supporting employees with their energy bills

Employees are also facing rising bills.

Supporting employees to manage this problem will help recruitment and retention. It may also

improve employee morale.

You can help employees by:

 

  • Giving them a pay rise or bonus
  • Increasing company benefits to include things like eye care vouchers and discounts at restaurants and leisure facilities
  • Offering salary sacrifice schemes, like cycle to work or employer-supported childcare
  • Offering staff discounts on your own products
  • Introducing flexible working so employees save on transport costs
  • Providing loans to employees to help them manage debt
  • Giving employees access to an employee assistance programme and mental health first aiders

Some of the options above will increase costs for the business, but they will build good will with employees. If you combine this support for employees with the energy measures above, you may still be able to bring down your overall costs.

Also, some of the above options have tax implications, which you will need to think about.

WTJ Insurance

Landmark House, 556 Leeds Road,
Outwood, Wakefield, WF1 2DX

Call: 01924 871 111
insurance@wtj.co.uk