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Forums > Sageview Consulting Forums > Human Resources Community
Subject: What are Cost Saving Alternatives to Layoffs?
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randy@actiononline.ccUser is Offline

Posts:0
02/05/2009 11:06 AM  
At Sageview, we recommend exploring other ideas instead of automatically responding to a tightening economy with a knee jerk reaction of layoffs. It is important to consider how much money you desire to conserve and the cost of recruiting, training, and replacing key employees once the economy brightens. We’ve found that alternatives to layoffs can include a reduction in the workweek or employee hours. Ask if any employees are interested in taking extra non-paid vacation. Some employees may like the trade off between money and time off.

Another idea is to reduce the pay per hour across the company, starting with a salary reduction for senior management. An additional thought is to give small incremental pay increase across the year instead of annual merit increases. The small frequent rewards can do wonders to spark motivation and fuel productivity.

What types of cost saving alternatives to layoffs have others used?
MaryUser is Offline

Posts:2
05/03/2009 8:04 PM  
At our company, we are looking at expenses across the board, not just payroll. We were surprised at how much we have been able to save by reducing costs on equipment, software licenses, server infrastructure, we even switched phone services and saved a bundle.
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Forums > Sageview Consulting Forums > Human Resources Community > What are Cost Saving Alternatives to Layoffs?


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